Samsung Medison partners with US-based Exo to co-develop next-gen ultrasound platform

Samsung Medison, the medical imaging arm of Samsung Electronics, has entered a strategic partnership with California-based Exo Imaging to jointly develop next-generation ultrasound solutions, deepening its push into AI-powered diagnostic imaging and reinforcing its long-term commitment to the medical device sector.

While specific financial terms have not been officially disclosed, the partnership includes a strategic equity investment by Samsung Venture Investment Corporation, reportedly amounting to up to $100 million, according to Tech Funding News, a U.K.-based tech outlet.

The investment is part of a broader funding round led by Sands Capital, Bold Capital, and Qubit Health Capital.

Founded in 2015, Exo is recognized for its pioneering work in high-performance, low-cost handheld ultrasound devices and AI-based medical imaging software.

Its flagship product, Exo Iris, is a compact, AI-integrated handheld ultrasound device designed for rapid, high-precision scanning of the heart, lungs, bladder, and other key anatomical regions. The company also offers Exo Works, a cloud-based workflow solution that automates image capture, clinical documentation, billing, and quality assurance.

More recently, Exo unveiled SweepAI, an AI-powered diagnostic tool that analyzes ultrasound images in real time to help clinicians detect critical conditions such as heart failure or pneumonia at earlier stages, enhancing both diagnostic accuracy and clinical efficiency.

“Our collaboration with Exo marks a significant step toward advancing transformation in ultrasound imaging,” Samsung Medison CEO Yoo Kyu-tae said. “We are committed to delivering innovation that improves diagnostic capabilities and enhances the clinical experience for patients and practitioners alike.”

The deal comes as Samsung continues to position medical devices as a strategic growth engine.

In 2010, Samsung identified medical equipment as one of its five new growth businesses, acquiring a 43.5 percent stake in Medison for $262 million.

Since then, it has bolstered its imaging portfolio with the acquisition of U.S.-based CT device maker NeuroLogica in 2013 and, more recently, French AI ultrasound analysis firm Sonio in 2023 for $92.4 million.

With this latest partnership, Samsung aims to combine its global engineering scale with Exo’s silicon-based ultrasound technology to accelerate the commercialization of high-performance, AI-integrated platforms for point-of-care and hospital settings.

Samsung Medison’s financial performance also reflects the momentum behind this strategic focus. The company reported revenue of 570.9 billion won in 2024, up from 517.4 billion won reported in 2023.