Lunit enters into a strategic agreement with Radiobotics to distribute Radiobotics' bone fracture detection solution RBfracture™ starting from EMEA.
Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, recently entered into a strategic partnership with Denmark-based Radiobotics, the leading musculoskeletal (MSK) AI diagnostics provider. The partnership aims to significantly enhance both companies' presence in the AI medical imaging market starting from Europe, the Middle East, and Africa (EMEA), and to offer new value to the sector through the synergies created by combining the complementary strengths of both companies.
As part of this collaboration, Lunit will be the distributor of Radiobotics' RBfracture™, a CE MDR Class IIa-certified AI tool designed for rapid and precise detection of bone fractures on X-ray images.
This strategic move is poised to generate significant market synergies by combining the unique strengths of both companies. When used alongside RBfracture™, Lunit’s AI-powered chest X-ray screening solution, Lunit INSIGHT CXR, enhances the comprehensive diagnostic capabilities available to healthcare providers, offering a full spectrum of AI-assisted screening that spans lung abnormalities to bone fractures with a single X-ray.
Brandon Suh, CEO of Lunit remarked:
"By joining forces with Radiobotics, we aim to augment the value we deliver to the healthcare market, expanding the reach and efficacy of AI-driven X-ray diagnostics. This partnership represents a strategic move to meet the growing demand for advanced diagnostic tools across medical practices in the region. Together, we are poised to set new standards in healthcare diagnostics, benefiting providers and patients alike with more accurate and accessible technology."
Peter Ulvskjold, CEO of Radiobotics, expressed enthusiasm about the collaboration, stating:
"We are immensely thrilled about the opportunity to join forces with Lunit, a distinguished leader in the market. This collaboration opens up avenues for synergy, where our solutions seamlessly integrate with theirs, ultimately enhancing the customer experience. Together, we aim to provide a comprehensive suite of X-ray AI analysis tools, simplifying access for our valued customers to a broader range of cutting-edge solutions. Here's to a fruitful partnership and the advancement of technology in healthcare!"
The collaboration not only elevates accuracy and adaptability but also substantially improves patient outcomes by offering a holistic assessment of potential health issues across different body areas.
Additionally, the agreement allows Lunit to expand its diagnostic portfolio to include other X-ray diagnostic tools from Radiobotics, such as those for detecting knee osteoarthritis and hip dysplasia, further solidifying its leadership in the AI-based X-ray analysis market.
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