Lunit, a South Korean cancer diagnostics AI company, said on Monday its
US subsidiary Volpara Health secured a 10 billion won ($7.5 million) contract from the US Defense Health Agency (DHA).
The contract will see Volpara supply and upgrade breast cancer screening software to the DHA, which provides medical services to millions of active-duty and retired US military personnel and their families.
Under the five-year deal, the DHA will adopt Volpara’s Patient Hub, an AI-powered solution of breast cancer risk assessment and image analysis.
Lunit expects the contract to help it achieve its first annual profit, as measured by earnings before interest, taxes, depreciation, and amortization.
The company said Volpara’s long-standing relationship with the US military, dating back to 1990, positions it well for global expansion.
Write to Jeong-Min Nam at
peux@hankyung.com
