Lunit is expanding its services in Saudi Arabia by deploying its Lunit Insight CXR technology in five major hospitals, which collectively have over 4,200 beds. This technology is designed to detect common lung abnormalities, including lung cancer, tuberculosis, and pneumonia.

‍

To support this expansion and further growth, Lunit has secured $150 million (137 million euros) in funding, with NH Investment & Securities playing a crucial role as the underwriter. The funding will be allocated towards operational expenses such as product development, talent acquisition, and external investments, including establishing overseas subsidiaries in the U.S. and Europe.

‍

This partnership in Saudi Arabia builds on Lunit's previous successful collaborations in the country, including participation in the "Saudi Vision 2030" Healthcare Sandbox with Seha Virtual Hospital and a partnership with Dr. Sulaiman Al Habib Medical Group. With shareholder participation exceeding 100%, Lunit's significant paid-in capital increase reflects strong investor support and confidence in its mission to advance healthcare through innovative technology solutions.

‍