logo
#

Latest news with #US1.68

Samsung to buy US healthcare services company Xealth
Samsung to buy US healthcare services company Xealth

New Straits Times

time08-07-2025

  • Business
  • New Straits Times

Samsung to buy US healthcare services company Xealth

SEOUL: Samsung Electronics said on Tuesday it had signed an agreement to acquire Xealth, a US-based healthcare platform, as part of its efforts to expand its mobile healthcare services business. The South Korean company did not disclose the value of the transaction. Samsung said the two companies hoped to create "synergy between Samsung's advanced wearable technology and Xealth's digital health platform" which runs digital health programs and manages data linking care providers, including more than 500 U.S. hospitals, with their patients. The acquisition comes as Samsung steps up efforts to diversify beyond its core semiconductor and smartphone businesses. Samsung has been betting on the medical sector as one of its new growth engines, along with consumer audio, cooling and heating systems, and robotics. In May, Samsung Electronics agreed to buy Germany's FlaktGroup for 1.5 billion euros ($US1.68 billion) as it looks to meet growing demand for cooling of data centres used for artificial intelligence projects. Samsung, led by Chairman Jay Y. Lee, said at a shareholder meeting in March that it was looking for "meaningful" deals this year to drive growth after having lagged rivals in tapping the AI chip boom led by Nvidia. Samsung earlier on Tuesday projected a far worse-than- expected 56 per cent plunge in second-quarter operating profit due to weak AI chip sales, deepening investor concerns over the tech giant's ability to revive its struggling semiconductor business.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store