{"id":961,"date":"2024-05-22T00:00:00","date_gmt":"2024-05-22T00:00:00","guid":{"rendered":"https:\/\/www.lunit.io\/media-hub\/lunit-completes-acquisition-of-volpara-pioneering-next-level-of-ai-driven-cancer-care\/"},"modified":"2024-05-22T00:00:00","modified_gmt":"2024-05-22T00:00:00","slug":"lunit-completes-acquisition-of-volpara-pioneering-next-level-of-ai-driven-cancer-care","status":"publish","type":"media-hub","link":"https:\/\/www.lunit.io\/en\/media-hub\/lunit-completes-acquisition-of-volpara-pioneering-next-level-of-ai-driven-cancer-care\/","title":{"rendered":"Lunit Completes Acquisition of Volpara: Pioneering Next-Level of AI-Driven Cancer Care"},"content":{"rendered":"<p><strong>[SEOUL, South Korea, May 22, 2024]<\/strong> Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, proudly announces the successful completion of its acquisition of Volpara Health Technologies, a global leader in medical software for breast cancer screening. This landmark acquisition, completed in an impressive eight-month timeline, marks a significant milestone in Lunit\u2019s mission to conquer cancer through AI.<\/p>\n<p><img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/EDITOR\/baf7c7f0-6a80-47f2-9875-7a309f35d995.png#1982\"><\/p>\n<p><strong>Strategic Impact:<\/strong><\/p>\n<p>The acquisition of Volpara significantly boosts Lunit\u2019s capabilities in AI-driven cancer diagnostics. With this acquisition, Lunit integrates Volpara\u2019s advanced breast health platform\u2014such as breast density assessment, Scorecard\u2122, and screening workflow enhancement\u2014with its AI-powered solutions for breast cancer detection. This creates a unique, holistic AI suite that enhances every part of breast screening, both detection capabilities and administrative processes. The all-encompassing offering positions the unified company to lead the market with a powerful suite and a robust industry reputation.<\/p>\n<p>Looking forward, Lunit is set to capitalize on the powerful synergy with Volpara, to develop autonomous AI models\u2014an unmatched capability in the industry. These advanced AI systems will independently screen, detect, and diagnose cancer, heralding a new era in cancer diagnostics and significantly enhancing patient care worldwide.<\/p>\n<p>In addition to strengthening our technological foundation, this acquisition also facilitates market expansion.<\/p>\n<p><strong>Expansion into the US Market:<\/strong><\/p>\n<p>With Volpara\u2019s established presence in over 2,000 U.S. medical sites, Lunit is strategically positioned for a robust entry into the American market, the largest healthcare market in the world. The US AI healthcare market is projected to grow from USD 2.9 billion in 2022 to USD 51.3 billion by 2030, registering a compound annual growth rate (CAGR) of 43.22%<a href=\"https:\/\/mail.google.com\/mail\/u\/0\/#m_-2391451765639581029_m_-7050298395179830188_m_2490577723775950742__ftn1\" target=\"_blank\"><sup>[1]<\/sup><\/a>, driven by the need for more efficient healthcare services and potential cost savings. Furthermore, the recent recommendation by the US Preventive Services Task Force (USPSTF) to lower the breast cancer screening age from 50 to 40 is expected to increase screening demand, presenting a tremendous opportunity.<\/p>\n<p>Leveraging Volpara's extensive presence in the United States, Lunit will introduce its solutions to this expansive market, enhancing accessibility and adoption. Conversely, Lunit plans to promote Volpara\u2019s solutions across Europe, Asia, the Middle East, and South America, where Lunit has established a strong market presence. This expansion will catapult the Group\u2019s reach to a broader audience, solidifying its position as a global leader in the market.<\/p>\n<p><strong>Ushering in a New Era of Medical AI:<\/strong><\/p>\n<p>\u201cWe are thrilled to welcome Volpara into the Lunit family. Today, we take a monumental step towards revolutionizing our approach to cancer care. By combining our strengths, we are creating a formidable alliance in the industry, particularly in the US market. This merger enables us to develop and deliver innovative, life-saving solutions that meet critical needs in cancer diagnostics,\u201d said Brandon Suh, CEO of Lunit. \u201cWhile our initial focus remains on breast cancer, both Lunit and Volpara are committed to broadening our offerings to address a wider range of cancers and medical conditions. Together, we will enhance our technological capabilities and strengthen our mission to lead the global fight against cancer.\u201d<\/p>\n<p>\u201cThis merger represents an exciting opportunity to enhance our impact on global healthcare. We can significantly improve early cancer detection and patient outcomes by integrating Volpara\u2019s innovative breast screening technology with Lunit\u2019s AI capabilities. Together, we aim to set new standards in cancer diagnostics and drive forward advancements that will benefit healthcare providers and patients globally. Our shared vision to conquer cancer will undoubtedly pave the way for transformative developments in medical AI,\u201d added Teri Thomas, CEO of Volpara.<\/p>\n<p>###<\/p>\n<p><strong>About Lunit<\/strong><\/p>\n<p>Founded in 2013, Lunit is a medical AI company on a mission to conquer cancer. We harness AI-powered medical image analytics and AI biomarkers to ensure accurate diagnosis and optimal treatment for each cancer patient. Our FDA-cleared Lunit INSIGHT suite for cancer screening serves over 3,000 hospitals and medical institutions across 40+ countries.<\/p>\n<p>Our clinical findings are featured in top journals, including the Journal of Clinical Oncology and the Lancet Digital Health, and presented at global conferences such as the ASCO and RSNA.<\/p>\n<p>In 2024, Lunit acquired Volpara Health Technologies, setting the stage for unparalleled synergy and accuracy, particularly in breast health and screening technologies.<\/p>\n<p>Headquartered in Seoul, South Korea, with a global network of offices, Lunit leads in medical AI innovation. Discover more at <a href=\"http:\/\/lunit.io\/en\" target=\"_blank\">lunit.io<\/a><\/p>\n<p><\/p>\n<hr>\n<p><a href=\"https:\/\/mail.google.com\/mail\/u\/0\/#m_-2391451765639581029_m_-7050298395179830188_m_2490577723775950742__ftnref1\" target=\"_blank\"><sup>[1]<\/sup><\/a> Insights 10: <a href=\"https:\/\/www.insights10.com\/report\/us-artificial-intelligence-ai-in-healthcare-market-analysis\/\" target=\"_blank\">US Artificial Intelligence (AI) in Healthcare Market Executive Summary<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"template":"","media-hub-type":[37],"class_list":["post-961","media-hub","type-media-hub","status-publish","hentry","media-hub-type-corporate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lunit Completes Acquisition of Volpara: Pioneering Next-Level of AI-Driven Cancer Care - Lunit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lunit.io\/en\/media-hub\/lunit-completes-acquisition-of-volpara-pioneering-next-level-of-ai-driven-cancer-care\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lunit Completes Acquisition of Volpara: Pioneering Next-Level of AI-Driven Cancer Care - Lunit\" \/>\n<meta property=\"og:description\" content=\"[SEOUL, South Korea, May 22, 2024] Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, proudly announces the successful completion of its acquisition of Volpara Health Technologies, a global leader in medical software for breast cancer screening. 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