As Lunit, a leading medical artificial intelligence (AI) company, prepares for the acquisition of Volpara Health Technologies, plans are underway to finalize the acquisition in May, marking a significant advancement in the field of medical AI. Industry sources revealed on April 24th that at the Volpara shareholder meeting held on April 12th, Lunit' proposal for acquisition, represented by Beom-seok Seo, was approved with a majority vote of 96.92%. The acquisition process will be concluded upon payment of the acquisition price of AUD 1.15 per share to existing Volpara shareholders in May.

In December of last year, Lunit entered into a contract to acquire Volpara, a multinational company supplying AI solutions to over 2,000 healthcare facilities in the United States, for $193.07 million. With this strategic move, Lunit not only aims to significantly increase its revenue in the world's largest healthcare market, the United States but also secure its own sales network for AI solutions within the country.

Founded in 2009 in Wellington, New Zealand, Volpara specializes in AI platforms for breast cancer screening, with offices in Seattle, USA. The company is actively engaged in clinical and sales activities across the United States, with its products utilized in over 2,000 healthcare facilities, accounting for one-third of all breast imaging facilities in the country. As of last year, Volpara held a market share of 42% within the United States.

Following the acquisition, Lunit plans to conduct a Post-Merger Integration (PMI) process and proceed with a specialized solution business for breast cancer screening within the United States. The company also intends to maximize the use of distribution networks based on favorable sales regions for each entity outside the United States.

Additionally, Lunit announced in November 2023 that over 3,000 medical institutions worldwide have adopted their solutions for chest X-ray image analysis, "Lunit Insight CXR," and breast imaging analysis, "Lunit Insight MMG," achieving approximately $18.3 million in revenue in 2023.

Lunit' overseas revenue accounted for approximately 85% of its total revenue last year. Since the proportion of revenue from the United States within its overseas revenue isn't particularly high, the company explains that through the acquisition of Volpara, they plan to aggressively pursue their business in the United States.

Lunit aims to utilize Volpara's repository of over 100 million breast imaging data to build precise medical and large-scale AI platforms. Leveraging Volpara's deep understanding of the U.S. market, Lunit plans to strengthen its sales capabilities in the United States. A company spokesperson stated, "Our team members will continue with existing product research and development (R&D) and enhancement efforts." They added, "We will also work on securing high-quality data from Volpara in large quantities to increase accuracy and efficiency."