Lunit partners with SEHA to test AI-based radiology via UAE's largest healthcare network

• Under the terms of the partnership, Lunit will collaborate with SEHA to conduct an evaluation trial of its AI-based radiology later this year

SEOUL, South Korea, Oct. 24, 2022 /PRNewswire/ -- Lunit (KRX: 328130.KQ) today announced that it signed a collaboration agreement with the Abu Dhabi Health Services Company (SEHA), part of Pure Health, the UAE's largest healthcare network. The signing ceremony took place at Lunit's Seoul headquarters on September 29. Attending officials included Lunit CEO Brandon Suh and Radiologist Dr. Afra Rashed Saeed Almesaied Alneyadi.

Following the agreement, Lunit and SEHA will proceed with a proof of concept (POC) of the Lunit INSIGHT suite, the company's AI solution for radiology, at medical institutions across the Middle East. The POC will include SEHA's trial of the Lunit INSIGHT CXR, an AI solution for chest X-ray analysis, and the Lunit INSIGHT MMG, an AI solution for mammography analysis, for evaluation.

SEHA is a comprehensive healthcare network under the UAE's largest healthcare provider Pure Health, a brand of scientific innovation that combines imagination and advances in technology. Established in 2007, the independent public joint stock company currently operates 14 hospitals and primary healthcare clinics with a total of more than 3,000 beds.

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.^[1]

SEHA was recently invited by the Korean Hospital Association (KHA) and the National IT Industry Promotion Agency (NIPA) to attend the "K-Hospital Fair 2022" in South Korea, held between September 29 to October 1.

"Lunit entered the Middle Eastern market following our supply contract with Roche and Microsoft Azure in March to export Lunit INSIGHT MMG," said Brandon Suh, Chief Executive Officer at Lunit. "Through this exciting collaboration with SEHA, we expect to further expand our business in the Middle East."

"Through this MOU, we will work with Lunit to implement Korea's world-class medical AI imaging solution during the POC experiments," said Dr. Afra Rashed Saeed Almesaied Alneyadi, Radiologist, at SEHA. "Our goal is to provide better medical services to our patients by improving SEHA's medical image analysis program."

About Lunit

With AI, Lunit aims to 'conquer cancer,' one of the leading causes of death worldwide. Lunit is an AI software company devoted to developing AI solutions for precision diagnostics and therapeutics, to find the right diagnosis at the right cost, and the right treatment for the right patients. Lunit, a portmanteau of 'learning unit,' is a deep learning-based medical AI company devoted to developing advanced medical image analytics and data-driven imaging biomarkers via cutting-edge technology.

Founded in 2013, Lunit has been acknowledged around the globe for its advanced, state-of-the-art technology and its application in medical images. Our technology has been recognized at international AI competitions surpassing top companies like Google, IBM, and Microsoft. As a medical AI company that values building clinical evidence, our findings are presented in major peer-reviewed journals and global conferences including ASCO and AACR. Lunit is headquartered in Seoul, South Korea with offices in representatives in the U.S.A., Netherlands, and China.

^[1] Middle East and Africa Medical Imaging Market – Industry Trends and Forecast to 2029, Data Bridge Market Research (2022.06)