Samsung Electronics Becomes Largest Shareholder in Element Biosciences

Pushes Deeper Into Digital Health

Adds $175 Million Investment in Element

Takes More Than 20% Stake to Become Largest Shareholder

Seeks Core Precision-Medicine Technologies

Aims to Strengthen Health Services on Wearables

Samsung Electronics has become the largest shareholder in Element Biosciences, a U.S. genetic analysis equipment maker, as it looks to strengthen health-management services tied to Galaxy smartphones and wearable devices.

Samsung said on June 10 that it invested $175 million in Element’s Series E funding round. The investment comes two years after Samsung joined the company’s Series D financing in July 2024. With the latest investment, Samsung became Element’s largest shareholder for the first time. Its stake is understood to be in the 20% range.

Industry officials say Samsung made the follow-on investment to secure core technologies related to precision medicine. Health technology using artificial intelligence and biotechnology has recently drawn attention across the medical sector. Solutions that more precisely analyze genetic, lifestyle and clinical data are also advancing. According to market researcher Fortune Business Insights, the precision-medicine market, which totaled $99.84 billion last year, is forecast to grow at an average annual rate of 11.76% and reach $266.63 billion by 2034.

Samsung is understood to place particular value on the growth potential of DNA sequencing and multiomics technologies within precision medicine. DNA sequencing is the technology used to read the base sequence of DNA, the blueprint of living organisms. Multiomics analyzes how DNA identified through sequencing functions inside the body. Both technologies are useful for closely analyzing individual genetic variations and traits to assess disease risk and support prevention, diagnosis and monitoring.

The industry has largely relied on running DNA sequencing and multiomics analysis separately and then combining the results. That approach is costly, time-consuming and less accurate. Element has drawn attention for developing technology that moves beyond that model, enabling a single device to simultaneously analyze DNA, RNA, proteins and even cellular changes over time.

Samsung said it plans to use the expanded investment to deepen its strategic partnership with Element and create synergies. The company did not elaborate further, though the move could bolster health features across Samsung’s Galaxy smartphones and wearables.

Samsung acquired Sonio, a French startup developing AI software for ultrasound diagnostics, through Samsung Medison in 2024. Last year, it also acquired Xealth, a U.S. digital health platform company, speeding up development of its health platform business. By adding genetic-analysis capabilities through the Element investment, Samsung could further advance personalized healthcare services across the Galaxy lineup.

"Samsung Electronics' expertise in AI, medical devices and digital health, combined with Element’s innovative genomic analysis technology, will create synergies for the future of personalized medicine," Roh Tae-moon, president and head of Samsung Electronics’ Device eXperience division, said.

Kang Hae-ryeong, Hankyung reporter hr.kang@hankyung.com