Coreline Soft announced on March 12th that it has decided to conduct a third-party equity offering worth 3.4 billion KRW to the medical AI company, VUNO. The issue price for the new shares is set at 7,920 KRW per share, resulting in the issuance of a total of 429,293 convertible preferred shares (CPS).
On the same day, the two companies also signed a “Strategic Partnership for Global Medical AI Business Expansion.” The signing ceremony took place at Coreline Soft’s headquarters and was attended by key executives, including Kim Jin-kook, CEO of Coreline Soft, and Lee Ye-ha, CEO of VUNO.
Coreline Soft plans to utilize the funds acquired from this equity offering to expand its presence in the Japanese medical AI market, based on the partnership established with VUNO. VUNO has entered the Japanese market with its AI-based chest CT (computer tomography) diagnostic support solution, VUNO MedⓇ-LungCT™, which has been registered as an insurance reimbursement target. Coreline Soft is set to leverage VUNO’s local network to actively target the Japanese medical AI market.
VUNO has highly praised Coreline Soft’s excellent analytical capabilities in the field of chest imaging diagnostics. The company plans to transfer the technology and sales rights of its chest CT solutions and participate as a strategic investor, focusing on the preventive medical AI sector led by its biosignal product line.
Through this collaboration, both companies aim to leverage their respective strengths to further expand in the global AI medical market and develop innovative AI medical solutions.
“We successfully secured this investment thanks to the high appraisal of VUNO’s unique AI technology and global market expansion potential,” said Kim Jin-kook, CEO of Coreline Soft. “This will lay the groundwork for our full-scale entry into the Japanese market. The two companies will enhance their capabilities in their respective strengths, and we plan to accelerate our efforts in the global medical AI market through this strategic partnership.”
“Japan is one of the countries where investments in AI-based medical technology are most active,” he added. “Through our collaboration with VUNO, we will establish a dominant market position in the Japanese and Asian medical AI sectors.”
“The global medical AI industry is transitioning from its nascent stage to early growth,” said Lee Ye-ha, CEO of VUNO. “I am confident that if AI companies like VUNO and Coreline Soft strategically collaborate while honing their core businesses, they can expand their competitiveness in the global market.”
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