Lunit takes Volpara for $193 million

por Gus Iversen, Editor in Chief | May 23, 2024
Business Affairs Women's Health
Lunit, a leader in AI-powered cancer diagnostics and therapeutics, has finalized its acquisition of Volpara Health Technologies, a global provider of medical software for breast cancer screening, for $193 million. This acquisition significantly enhances Lunit’s capabilities in AI-driven cancer diagnostics.

The integration of Volpara’s advanced breast health platform, including technologies for breast density assessment and screening workflow enhancement, with Lunit’s AI solutions creates a comprehensive suite for breast cancer diagnostics. The combined offering is poised to streamline administrative processes, positioning the company as a leader in the industry.

Volpara’s presence in over 2,000 U.S. medical sites provides Lunit with a strategic entry into the American market, the largest healthcare market globally. Additionally, the recent recommendation by the U.S. Preventive Services Task Force to lower the breast cancer screening age from 50 to 40 is expected to increase screening demand.

In a statement accompanying the announcement, Brandon Suh, CEO of Lunit, hinted that the combined companies could set their sites beyond breast cancer in the future by developing solutions for other indications.

"By combining our strengths, we are creating a formidable alliance in the industry, particularly in the U.S. market. This merger enables us to develop and deliver innovative, lifesaving solutions that meet critical needs in cancer diagnostics,” said Brandon Suh, CEO of Lunit. “While 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.”

Founded in 2013 and based in South Korea, Lunit recently announced that there have been 100 peer-reviewed research articles published featuring its Lunit INSIGHT suite, a milestone the company says underscores the clinical safety, effectiveness, and efficiency of its AI solutions.

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