[INQ. NO. 2401E18] Lunit Inc., a medical artificial intelligence (AI) startup company, is entering the U.S. market, the world’s largest medical market, by acquiring a global breast-cancer AI platform company. This is the first acquisition of a promising overseas medical AI company since the company was founded, and significant synergy is expected in its flagship medical AI business.
Lunit recently signed a contract to acquire Volpara Health Technologies, a multinational company that supplies AI solutions to about 2,000 medical institutions in the United States, for US$193.07 million (about KRW 252.5 billion), and it thus instantly secured its own sales network in the United States.
Lunit’s CEO remarked, “With the acquisition of Volpara, we will be able to shorten the time to get established in the U.S. market by at least five years,” adding, “We will grow into the industry’s only company with annual sales of KRW100 billion by 2025.”
Volpara, which posted sales of KRW21 billion in 2022 and KRW28 billion last year, has recorded an average annual sales growth-rate of 63% over the past five years. Currently, four out of 10 mammography screening centers in the United States use Volpara’s products.

In particular, the software market, essential for breast-cancer screening, is expected to grow rapidly in the future. The company’s CEO explained, “Basically, in the United States, there are about 40 million mammography images taken officially every year. Based upon this data, we internally estimate the size of the breast-cancer screening software market in the United States to be worth around 1.5 trillion won.”
Lunit predicts that the market-size will grow to around KRW3 trillion within five to six years.

 
 
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