Samsung Electronics said on Tuesday it has signed a deal to acquire U.S.-based healthcare platform Xealth as part of its plan to grow its mobile healthcare services business.
The company did not reveal the value of the acquisition. Xealth operates a digital health platform that runs healthcare programs and connects more than 500 hospitals in the U.S. with patients and care providers.
Samsung said it plans to combine Xealth’s services with its wearable technology to strengthen its position in the healthcare sector.
The move comes as Samsung increases investment in areas outside its main semiconductor and smartphone operations. The company has identified healthcare, consumer audio, cooling and heating systems, and robotics as key new business areas.
In May, Samsung agreed to acquire Germany’s FlaktGroup for €1.5 billion to expand its data center cooling solutions.
Chairman Jay Y. Lee told shareholders in March that Samsung was looking for major deals in 2024 to support growth after falling behind in the market for AI chips.
Earlier on Tuesday, Samsung said it expects second-quarter operating profit to fall 56% due to weaker sales of AI chips, raising concerns over the performance of its semiconductor division.
