2 weeks Ago By Yeon Choul-woong
Coreline Soft has announced on April 14th that it has recently signed a Memorandum of Understanding (MOU) with its local Chinese affiliate, Suhai, to expand their AI-based platform and establish a strategic partnership. This MOU is part of Coreline Soft's strategy to use the European, North American, and Asian markets as three pillars of its global expansion, with a focus on expanding in Asia. Previously, Coreline Soft successfully supplied products to top-ranked hospitals in Taiwan, such as the Taipei Veterans General Hospital and National Taiwan University Hospital.
Additionally, the company has expanded into the Japanese market through a partnership with Vuno, a South Korean medical AI company. The collaboration with Suhai is seen as a crucial step in completing their Asian strategy spanning Taiwan, Japan, and China. Through this agreement, the two companies plan to enhance AI technology, engage in joint R&D of new products, and create synergies in clinical and business areas.
Suhai Information Technology, which has an extensive network of medical institutions across China and a proprietary AI-based data collection process, is actively penetrating the local medical AI market. The company has secured numerous national clinical research projects focusing on major disease groups, including lung CT, providing large-scale clinical imaging datasets and field-centric insights that enhance product performance and market applicability. As of 2021, China's medical AI market was valued at approximately 38.
8 billion Yuan (about 7 trillion Won), with the healthcare sector being the most significant field for AI adoption. The growth rate of the Asian medical AI market, centered around China, is among the fastest globally, with an annual growth rate exceeding 48%, rapidly catching up with North America and Europe. "China represents the world's largest market for lung disease patients, with rapid adoption of medical AI driven by government initiatives," said Coreline Soft's CEO, Jin-guk Kim.
"This partnership holds strategic significance, connecting major Asian countries like Taiwan and Japan, and will strengthen our foothold in the Asian market beyond Europe and the US." "China requires not only technological prowess but also strategic responses to complex regulations, making collaboration with knowledgeable and trusted local partners essential," he added. "We aim to accelerate the expansion of the Asian AI medical diagnostic ecosystem with the collaboration with Suhai.
" "As cardiovascular diseases, COPD, cancer, and diabetes emerge as national health issues, the demand for early diagnosis using LDCT-based AI analysis technology is rapidly increasing in China," said Suhai's CEO, Wang Ping. "AVIEW is recognized as world-class QCT software and will be a key solution in our joint R&D and clinical CDSS (Clinical Decision Support System) application projects." Meanwhile, Coreline Soft, with certifications such as FDA, CE, HIPAA, and GDPR, is regarded as a rare company capable of meeting the needs of the Chinese market concerning technological capabilities, regulatory compliance, and product reliability.
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