One of South Korea���s largest companies is doubling-down on its investment to advance medical imaging technology.
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Telecommunications company increased its stake in Israel-based with an additional $20 million equity investment, the medical imaging technology company announced Thursday. This follows SK���s $5 million investment made in 2019, , CEO of Nanox, told 蹤獲弝け News.
Although Nanox started in 2012, the company is attracting significant funds in a short period of time. The SK investment comes less than six months after Nanox���s , led by Taiwan-based technology manufacturing giant . To date, Nanox has raised $80 million, according to the company.
As part of the new investment, SK���s CEO Jung Ho Park will join Nanox���s board of directors.
���We see Nanox as one of the most promising companies to make a real difference for early detection of disease and a higher standard of care to the humankind,��� Park said in a written statement.
Nanox was formed by a group of former Sony engineers focused on nanotechnology, intending to utilize that technology to solve the problem of early detection imaging in health care, Poliakine said.
It aims to ���democratize health care��� by offering a ���digital camera for the full body��� among its range of medical imaging services that operate on a pay-per-scan business model and include online radiology diagnostics and AI decision assistive algorithms implementation, he said.
���We are like the LED of X-rays, and our technology is utilized on a small chip, so we can replace the hot cathode method invented 125 years ago,��� he said. ���What we have done is implement nanotechnology in an effectively controlled X-ray stream, designated to exact the procedure as well as make it low cost and accessible.���
A traditional scan in the United States costs an average of $3,000, while globally, that average is $300, Poliakine said. Nanox is charging $30 per scan.
���We are not trying to be altruistic, but the cost of technology has jumped so much that we put in that price point to increase accessibility,��� he added. ���It is important to push forward health care in a more uniform way and to break down the walls between rich and poor countries.���
SK has decided to deploy 2,500 scanners to enable this service, while Nanox plans to establish a wholly owned Korean subsidiary to scale up production on the Nanox X-ray source semiconductor in order t0 get 15,000 units out to physicians by next year, Poliakine said.
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