Digital health is an important area of focus for Samsung. The company already provides several products and services in this space, including wearable devices, and a robust platform in Samsung Health.
The company's latest investment in a US-based genomics technology company may highlight on Samsung intends to evolve its future offerings in this space.
This has the potential to unlock new synergies across healthcare
Samsung Electronics announced today that it has made a $175 million investment in US-based Element Biosciences. It has now become the company's largest shareholder. Samsung previously invested in this company's Series D funding round two years ago.
Element Biosciences is working on next-generation DNA sequencing and multiomics platforms that will be used for biomedical and clinical research, drug discovery, and other life sciences. For Samsung, this investment is a way to further expand its footprint in digital health and precision medicine technologies.
TM Roh, co-CEO of Samsung Electronics, said that this investment and Samsung's expertise in AI and digital health will “create synergies that will help shape the future of personalized medicine.”
Samsung's health offerings are increasingly taking on a predictive and preventative approach to wellness. It's infusing AI in its products and services to utilize data generated through wearables and other devices to provide tips and guidance for better wellness outcomes.
The company is also conducting research studies alongside medical experts on various topics, such as the ability of its wearables to predict fainting or track muscle loss during GLP-1 treatments. This investment could result in technologies that make their way in future Samsung products that further improve wellness outcomes for users.
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