Lunit to Supply AI Platform to the Middle East
Lunit said it has signed a supply contract with two global companies -- Roche and Microsoft Azure -- to export Lunit Insight MMG, an artificial intelligence-based mammography image analysis solution, to the Middle East.
Lunit has supplied AI image analysis solutions by signing contracts with global medical device companies, such as GE Healthcare, Philips, and Fujifilm. The company stressed that the recent contract is significant as it has allowed the company to diversify its sales channels in collaboration with the world's top biopharmaceutical and IT companies.
Under the accord, Lunit will provide Lunit Insight MMG to Roche's Middle East subsidiary for the next three years, and Roche will use Lunit Insight MMG for breast cancer screening at medical institutions in the Middle East using Microsoft Azure's web-based cloud.
Lunit plans to launch Lunit Insight MMG Web service in the Middle East market within the first half-year.
In addition to cloud services, the company is discussing a plan to supply other solutions, such as products linked to picture archiving and communication systems used in medical institutions and Lunit Insight CXR, a lung cancer diagnosis solution, together with Roche.
"Roche has been continuously developing breast cancer research for the past 30 years and has contributed a lot to breast cancer treatment by developing related drugs. Microsoft Azure is gradually expanding the market as a global cloud service leader," Lunit CEO Suh Beom-seok said. "Therefore, we expect the contract to accelerate our sales in the region."
Suh added that the company would continue developing various business models to expand its business to more diverse countries.
According to Data Bridge Market Research, a global market research institute, the medical imaging market in the Middle East was worth $839 million in 2020 and will grow 7.1 percent a year until 2027 to $3.9 billion.