TOKYO—Hitachi Ltd. hopes to bring in about $6 billion in annual revenue at its new health-care business segment in five years by tapping into the growing market for medical services.

The electronics conglomerate wants to nearly double the revenue of the health-care business—an amalgamation of some of its sprawling operations—partly through merger-and-acquisition activity once it is consolidated April 1, Masahiro Kitano, the incoming head of the new operations, said Monday.

...