On 4 March 2013 Toshiba Medical Systems acquired 70% of the stock in the Korean company TI Medical Systems (held by INFINITT Healthcare) and established a wholly owned subsidiary in South Korea. This subsidiary will start its operations in April 2013, according to Toshiba.
TI Medical Systems was jointly established in 2009 by Toshiba Medical Systems and INFINITT Healthcare a leading picture archiving and communication system company in South Korea. Since its establishment, the company has served in excellent sales and service activities as the sole distributor of Toshiba Medical Systems. TI Medical Systems handles highly advanced medical imaging equipment and has installed 12 Aquilion ONE, 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 and CEO of Toshiba Medical Systems. It is also expected that collaborations with leading Korean users will be accelerated by taking advantages of geographical proximity between Japan and Korea.
According to a company release 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 BRIC countries (Brazil, Russia, India and China).
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, the company stated.