Samsung Electronics Co. Ltd. (KSE:005930.KS) launched a new corporate identity for medical products created through its collaboration with Korea based ultrasound equipment maker Medison Co.
The combined group, Samsung Medison, has a goal of becoming one of the world’s top 4 diagnostic ultrasound firms and, by 2020, aims to have 10,000 employees, according to the company.
Korea-based Samsung in December announced plans to acquire a controlling stake of 43.5 percent of Medison in addition to 100 percent of transducer probes and cables manufacturer Prosonic Co. as part of its ambitions to move into medical technology. Medison, which makes diagnostic ultrasound equipment, reported 2009 profits of $10.2 million on revenues of $191.8 million according to the latest exchange rates.
Samsung Medison plans to invest more than 10 percent of of its annual revenues in research and development.
"We will dramatically increase our investment in research and development, and will do our best to promote human health and happiness by securing the best in scientific and human resources in the medical device industry," Samsung Medison CEO Sang-Won Bang said in prepared remarks.
Competitors in the ultrasound business include household names such as General Electric Co. (NYSE:GE) and Royal Philips Electronics (NYSE:PHG), in addition to smaller companies such as SonoSite Inc. (NSDQ:SONO) and Hologic Inc. (NSDQ:HOLX), which have more specific product offerings.
Samsung recently expanded into biopharmaceutical drug manufacturing when it signed a $266 million deal with Durham, N.C.-based contract research organization Quintiles in February.
Here’s a roundup of companies announcing new distribution deals and other joint ventures.
- LifeScan fulfills exclusive U.S. agreement with Medtronic
LifeScan Inc., makers of the OneTouch brand of Blood Glucose Monitoring Systems for people with diabetes, fulfilled the terms of its exclusive, three-year agreement to provide Medtronic Inc. (NYSE:MDT) customers in the U.S. with the OneTouch UltraLink Blood Glucose Meter that wirelessly transmits glucose values to the Medtronic MiniMed Paradigm insulin pumps and Guardian REAL-Time continuous glucose monitoring (CGM) systems.
Read more - SRI and CTK Biotech team up on Chikungunya virus
In parts of the world where dengue fever is common, other viral infections are often misdiagnosed. It can be especially problematic for sufferers of another mosquito-borne viral infection called chikungunya — its high fever, joint pain that can last for years, and intense headache symptoms mimic the clinical profile of dengue. Misdiagnosis, combined with “silent” infections that lead to outbreaks in the community, make it difficult to quantify the actual infection numbers and develop the right public health programs.To solve the accurate diagnosis problem, nonprofit research institute SRI International is working with CTK Biotech to develop a diagnostic assay for early detection of chikungunya that will provide results in less than 20 minutes — compared to the several hours it now usually takes. Most critically, the test will be a “point-of-care” diagnostic that won’t need expensive reagents requiring refrigeration.
Read more - Biosense Webster enters deal to distribute Stereotaxis Odyssey portfolio
Biosense Webster Inc. announced the extension of their strategic collaboration with Stereotaxis Inc. (NSDQ:STXS). Under the terms of the agreement, Biosense Webster gains non-exclusive worldwide distribution rights to Stereotaxis’ Odyssey portfolio of products and will sell these products in Electrophysiology labs around the world and leverage the market leading installed base of its cutting edge CARTO 3 3D Mapping System. The combined solutions from both companies will drive improved workflow and optimize the remote technical and clinical support of electrophysiology practices globally.
Read more - BSD Medical inks distribution deal with CoMedical MicroThermX ablation devices
BSD Medical Corp. (NSDQ:BSDM), a provider of medical systems that utilize heat therapy to treat cancer, announced that the company signed an agreement with CoMedical, Inc. for the sales and distribution of the MicroThermX Microwave ablation line of products.
Read more - Rhythmia Medical and Endosense team up on 3-D mapping for arrhythmias
Rhythmia Medical Inc. and Endosense engaged in a joint development project to integrate the contact-force data provided by Endosense’s TactiCath force-sensing ablation catheter1 into Rhythmia’s three-dimensional cardiac mapping, visualization and navigation system. The project’s objective is to build on earlier feasibility tests to develop an integrated solution that allows electrophysiologists to quickly, efficiently and effectively view catheter tip-to-tissue contact force on a high-resolution, 3-D electro-anatomical map.
Read more - Volcano inks supply deal with Covidien
Volcano Corp. (NSDQ:VOLC signed of a supply agreement with ev3, a Covidien plc (NYSE:COV) company, under which Volcano will supply its proprietary Intravascular Ultrasound (IVUS) technology for use in ev3’s Plaque Excision Systems. Utilizing the digital IVUS transducer incorporated in Volcano’s market leading EagleEye catheter product line, this new product will be capable of running on Volcano’s global installed base of 5,000 systems.
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