South Korean medical AI firm made its debut on KOSDAQ, a buying and selling board of Korea Exchange, for an IPO of 37.eight billion gained ($33.6 million) by issuing 1.eight million shares.
WHY IT MATTERS
The firm had amassed an working deficit of seven billion gained ($6.2 million) by the third quarter of 2020, and the funds shall be a a lot wanted injection of money. Vuno plans to spend money on analysis and growth infrastructure in addition to the hiring of researchers and scientists in drugs and AI. By going public, the agency may even be capable to accumulate extra capital to gasoline its progress to be able to proceed scaling.
Vuno has been increasing its vary of choices since 2014. These embody medical imaging in radiology and pathology, bio-signalling in addition to automated medical transcriptions which provide a extra intensive array of AI options which are capable of resolve differing medical wants throughout completely different departments.
The WHO’s report, “Global strategy on human resources for health: Workforce 2030”, means that in 9 years the world can count on to face a medical workforce scarcity of 15.6 million folks. According to Vuno CEO Hyun-jun Kim, the corporate can treatment that scarcity by “providing fast, accurate assistance in four areas – medical imaging, pathology, vital signs and electronic medical records.”
THE LARGER TREND
To deal with the pressure of restricted manpower, healthcare suppliers have been more and more leaning in the direction of AI to reinforce on a regular basis features. For instance, the United States’ orthopaedic hospital Orthoindy turned to an iPhone app to help free its physicians from after-hours charting.
ON THE RECORD
“The IPO signifies a major leap forward for the company. It will give us a key branding opportunity and serve as a growth momentum to further accelerate both local and global expansion through major partnerships with UBCare, one of the largest EMR giants in Korea, M3, Japan’s largest medical service platform and CHC, Taiwan’s major healthcare group and many more to come within the year,” stated Kim.