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Lunit strengthens presence in the Middle East by supplying AI-powered breast screening solution to Dr. Sulaiman Al Habib Medical Group for the next three years
SEOUL, South Korea, July 26, 2023 /PRNewswire/ -- Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, continues its rapid expansion across the Middle East with a new supply contract. Following its recent collaboration with Seha Virtual Hospital earlier this month, Lunit today announced the signing of a commercial contract with Cloud Solutions, a subsidiary of Dr. Sulaiman Al Habib Medical Group (HMG), Kingdom of Saudi Arabia.
Jaemin Oh (center), VP of Business Development at Lunit, signs the contract with Abdulelah Al Mayman (Right), CEO of Cloud Solutions, Dr. Sulaiman Al-Habib Medical Group, at the Kingdom of Saudi Arabia (Photograph: Lunit)
Under the agreement, Lunit will supply its AI solution for mammography analysis, Lunit INSIGHT MMG, to Dr. Sulaiman Al Habib Medical Group for the next three years. HMG intends to integrate Lunit INSIGHT MMG into the diagnosis systems of medical institutions across the Middle East, analyzing hundreds of thousands of mammography images annually.
In addition to the supply contract, Lunit and Cloud Solutions will collaborate to enhance Lunit's AI-powered solutions based on Cloud Solution's cutting-edge cloud AI platform. This collaboration aims to further optimize Lunit's offerings and provide an even more advanced and seamless experience for the Kingdom.
The agreement between Lunit and Cloud Solutions is set to deliver high-quality medical services to patients across the Kingdom, addressing pressing challenges such as doctor shortages or medically underserved populations. Furthermore, this partnership will contribute to the Kingdom's national cancer screening program, building on the success and impact of Lunit's collaboration with Seha Virtual Hospital.
To further innovate breast screening for patients in Saudi Arabia, Lunit also plans to introduce Lunit INSIGHT DBT, an AI-powered 3D Breast Tomosynthesis analysis solution, to HMG later this year. The advanced capabilities of Lunit INSIGHT DBT will provide more precise diagnostics compared to traditional 2D breast imaging, contributing to early detection and improved treatment outcomes.
Dr. Sulaiman Al Habib Medical Group is the largest provider of comprehensive healthcare services in the Middle East, with 20 medical sites spread across Saudi Arabia, UAE, and Bahrain.
"We are thrilled to announce our partnership with Lunit, marking the first AI-based healthcare service available in Saudi Arabia," said Dr. Fatina Al Tahan, Senior Consultant at Dr. Sulaiman Al Habib Medical Group. "Breast cancer represents the most common cancer in the Saudi Arabia population in general. With Lunit's AI solution, we expect significant innovation in healthcare services and improved patient outcomes with early detection of breast cancer."
"We are delighted to bring our AI-powered cancer solutions to Saudi Arabian patients through Dr. Sulaiman Al Habib Medical Group. The partnership holds tremendous potential for Lunit as the healthcare transformation in the Middle East is on the rise and gathers momentum," said Brandon Suh, CEO of Lunit. "Our goal is to enhance cancer diagnosis and treatment outcomes by further providing innovative AI-powered solutions to healthcare providers throughout the Middle East."
According to Data Bridge Market Research, the medical imaging market in the Middle East, which surpassed USD 20 billion in 2021, is projected to exceed USD 30 billion by 2029, with an expected CAGR of 5.5% from 2022 to 2029. With Saudi Arabia accounting for 52.3% of the share in the Gulf Cooperation Council, this collaboration holds immense potential for Lunit's expansion and impact in the region.
About Lunit
Lunit is a deep learning-based medical AI company on a mission to conquer cancer. Our focus is on developing AI solutions for precision diagnostics and therapeutics, ensuring the right diagnosis, and treatment, at the right cost for each patient. Lunit is devoted to developing advanced medical image analytics and AI-based biomarkers via cutting-edge technology.
Founded in 2013, Lunit has been acknowledged around the world for its advanced, state-of-the-art technology and its application in medical images. Its technology has been recognized at international AI competitions surpassing giants like Google, IBM, and Microsoft. As a medical AI company grounded on clinical evidence, the company's findings are presented in major peer-reviewed journals such as the Journal of Clinical Oncology and JAMA Network Open, and global conferences including ASCO and AACR.
After receiving FDA clearance and the CE Mark, our flagship Lunit INSIGHT suite is clinically used in approximately 2,000 hospitals and medical institutions across 40+ countries. Lunit is headquartered in Seoul, South Korea with offices and representatives worldwide. For more information, please visit lunit.io
