|By Business Wire||
|March 3, 2013 11:00 PM EST||
Toshiba Medical Systems Corporation (headquarters: Otawara, Tochigi, Japan; president: Satoshi Tsunakawa) will acquire 70% of the stock in the Korean company, TI Medical Systems Co., Ltd. (headquarters: Seoul, South Korea; president: Charles Ju) held by INFINITT Healthcare Co., Ltd. (headquarters: Seoul, South Korea; president: Yong-Eum Ban) and establish a wholly owned subsidiary in South Korea. This subsidiary will start its operations in April, 2013.
TI Medical Systems Co., Ltd., was jointly established in 2009 by Toshiba Medical Systems Corporation (TMSC) and INFINITT Healthcare Co., Ltd., a leading PACS company in South Korea. Since its establishment, the company has served in excellent sales and service activities as the sole distributor of TMSC. TI Medical Systems handles highly advanced medical imaging equipment and has installed 12 Aquilion ONETM, industry's only Dynamic Volume CT scanner with a 160-mm wide area detector.
"By establishing this new subsidiary, we will be able to reinforce our brand awareness and business activities in South Korea in order to steadily expand Toshiba's market share by offering high-value-added medical imaging products, advanced applications, and quality services to Korean customers" said Satoshi Tsunakawa, president & CEO of TMSC. It is also expected that collaborations with leading Korean users will be accelerated by taking advantages of geographical proximity between Japan and Korea.
Medical imaging markets in South Korea are expected to grow at an average rate of 10%(*) per year (which is higher than the average rate of 9.6%(*) expected for the global market) and will maintain the high growth rate out to 2016 as one of the "Next Eleven" countries following the BRICs
The new subsidiary will continue to further strengthen the relationships with the Korean customers and provide products and services that meet and exceed their needs.
(*) (Espicom World Medical Market Forecasts to 2016)
[Outline of the new company]
Location: Seoul, South Korea
President: Mr. Charles Ju
Core business: Sales and service of medical equipment (CT, MRI, Ultrasound, X-Ray)
Name: Toshiba Medical Systems Korea Co., Ltd. (provisional name)
About Toshiba Medical Systems Corporation
Toshiba Medical Systems Corporation is a leading worldwide provider of medical diagnostic imaging systems and comprehensive medical solutions, such as CT, X-ray and vascular, ultrasound, nuclear medicine, and MRI systems, as well as information systems for medical institutions. Toshiba Medical Systems Corporation has been providing medical products for over 80 years. Toshiba Medical Systems Corporation is a wholly-owned subsidiary of Toshiba. Visit Toshiba Medical Systems Corporation's web site at http://www.toshibamedicalsystems.com/
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 550 consolidated companies, with 202,000 employees worldwide and annual sales surpassing 6.1 trillion yen (US$74 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm
Aquilion ONE is a trademark of Toshiba Medical Systems Corporation.