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Investing.com -- Lunit Inc., a notable player in AI-powered cancer diagnostics and treatments, today revealed a renewed agreement with Cloud Solutions, a branch of Dr. Sulaiman Al Habib Medical (TASE:BLWV) Group (HMG), the largest medical organization in Saudi Arabia. The new contract follows the successful partnership in 2023 and will see Lunit supply its AI-powered chest X-ray analysis tool, Lunit INSIGHT CXR, to Saudi Arabia for the next three years. The technology is expected to analyze approximately 1 million chest X-ray images.
This recent agreement extends the initial partnership between Lunit and HMG, which saw the introduction of Lunit INSIGHT MMG to aid in breast cancer screening across the Kingdom (TADAWUL:4280). The addition of Lunit INSIGHT CXR to the collaboration is intended to improve diagnostic accuracy and efficiency in identifying critical chest conditions, including lung cancer, tuberculosis, and pneumonia.
Brandon Suh, CEO of Lunit, expressed pride in strengthening the collaboration with Dr. Sulaiman Al Habib Medical Group. He emphasized that the second contract highlights the importance of their AI solutions and mirrors the mutual dedication to enhancing healthcare through innovation.
Lunit INSIGHT CXR uses advanced AI technology to detect chest irregularities with high accuracy, facilitating quicker and more accurate diagnoses and optimizing clinical workflows. The technology’s implementation aligns with Saudi Arabia’s Vision 2030 initiative, which prioritizes healthcare innovation and digital transformation.
According to Markets and Data, the AI in medical diagnostics market in Saudi Arabia is expected to grow at a compound annual growth rate (CAGR) of 26.97%, increasing from $34.37 million in 2023 to $231.77 million by 2031. The new contract bolsters Lunit’s position in a region that is set for fast adoption of AI-driven healthcare solutions.
Suh added that the expanded partnership with HMG reflects the increasing demand for AI-powered diagnostics in the Middle East. He expressed excitement at the prospect of continuing to support Saudi Arabia’s healthcare transformation and addressing significant issues such as the shortage of radiologists.
Lunit, established in 2013, is a medical AI firm committed to fighting cancer through AI. The company utilizes AI-powered medical image analytics and biomarker analysis to ensure accurate diagnosis and optimal treatment for each cancer patient. The FDA-approved Lunit INSIGHT suite for cancer screening serves over 4,800 medical institutions across more than 55 countries. Lunit’s clinical studies have been published in leading journals, including the Journal of Clinical Oncology and the Lancet Digital Health, and presented at global conferences such as the ASCO and RSNA. Headquartered in Seoul, South Korea, with a network of offices worldwide, Lunit leads the global fight against cancer.
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