Medical artificial intelligence (AI) company Lunit (CEO Seo Beom-seok) announced on the 18th that it has signed a supply contract for its mammography AI image analysis solution, 'Lunit Insight MMG', with the Abu Dhabi Hospital Authority (SEHA), the largest medical service organization in the Middle East, and will begin full-scale breast cancer screening project in Abu Dhabi, UAE.
Starting with Australia in 2022, Runit is expanding its presence in the global national cancer screening market, starting with Sweden, Iceland, and other European countries, as well as some Central and South American countries and the Middle East, including Saudi Arabia and Qatar. In addition, through this additional contract with the UAE, it will accelerate its conquest of the global B2G (business-to-government) market.
Established in 2007, SEHA is the largest integrated medical service organization in the Middle East. It operates 14 general hospitals and 70 clinics, has over 3,000 beds, and over 2,300 doctors, making it a large medical institution that provides world-class medical services.
After signing a business agreement (MOU) in October 2022, Runit and SEHA have been verifying the performance of AI solutions at local medical institutions for approximately two years, and have decided to pursue this contract. SEHA plans to analyze more than 100,000 mammography medical images using Runit AI solutions over the next five years.
Seo Beom-seok, CEO of Runit, said, “This contract is the result of UAE medical staff directly confirming the excellence of Runit AI solutions through a thorough pre-verification process,” and added, “We will accelerate the expansion of our global national cancer screening business using the Middle Eastern market, where the introduction of medical AI is accelerating, as a springboard.”
Meanwhile, according to a report by global market research firm Grand View Research, the Middle East medical AI market was worth about 200 million dollars (about 289 billion won) as of the end of last year, and is expected to expand significantly to up to 1.5 billion dollars (about 2.169 trillion won) in the next 5 to 7 years. In particular, the UAE's medical AI market, which has excellent medical infrastructure in the Middle East, is recording an average annual growth rate of 34.6% and is expected to grow to 137.9 million dollars (about 199 billion won) by 2030.
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