JLK Announces Expansion in the U.S. Market

/EIN News/ -- SEOUL, SOUTH KOREA, July 14, 2024 (GLOBE NEWSWIRE) -- JLK (https://www.jlkgroup.com/), a leading medical AI company, has announced the acceleration of its U.S. market entry with its AI-based stroke diagnosis solutions. The Korean company with world-class AI technology for stroke diagnosis, is now accelerating its entry into the U.S. market.

As the first medical AI company to be listed on the Korean stock exchange, JLK is renowned for its world-class technology in AI stroke diagnosis solutions. The company offers a comprehensive suite of 11 AI solutions for stroke diagnosis, including five CT-based and six MRI-based solutions under the MEDIHUB STROKE brand, which are gaining traction in the U.S. market.

Stroke is one of the most frequently misdiagnosed diseases. According to a study by Johns Hopkins University, the misdiagnosis rate for strokes in the United States is 17.5%. This results in approximately 800,000 people suffering from permanent disabilities and about 370,000 deaths annually.

JLK offers the world's only solution that utilizes artificial intelligence to provide essential quantitative values necessary for stroke diagnosis throughout the entire stroke cycle. The AI data, which is deep-learned from CT and MRI images, includes various stroke-related information such as the presence of stroke, location of the lesion, size and volume, severity (risk level), and the presence of blood flow abnormalities, which doctors can use as biomarkers for stroke diagnosis.

The solution consists of JLK-DWI (cerebral infarction type), JLK-LVO (large vessel occlusion), JLK-ICH (intracerebral hemorrhage), JLK-PWI (cerebral perfusion), JLK-WMH (cerebral white matter degeneration), JLK-CMB (cerebral microbleeds), JLK-LAC (chronic lacunar infarction), JLK-UIA (cerebral aneurysm), JLK-CTL (non-contrast large vessel occlusion), JLK-CTI (early detection of cerebral infarction), and JLK-CTP (cerebral CT perfusion).

This year, JLK has officially declared its full-scale entry into the U.S. market with plans to submit FDA applications for five stroke diagnosis AI solutions. The company has already submitted its Large Vessel Occlusion (JLK-LVO) detection solution and aims to secure at least one solution for U.S. insurance reimbursement to begin billing in clinical settings.

Last month, JLK also obtained FDA 510(k) clearance for its AI prostate cancer diagnosis solution, MEDIHUB Prostate. Leveraging the expertise gained from this approval, JLK is poised to expedite additional FDA approvals for its stroke solutions.

JLK anticipates synergy through its mobile healthcare application, Snappy. Snappy integrates all 11 of JLK’s stroke diagnosis AI solutions, enabling real-time sharing of clinical and imaging information interpreted by AI, thus facilitating collaborative efforts among physicians.

The company explains that with the dedicated messenger function for medical staff, easy collaboration and quick decision-making are possible, and it is advantageous for securing the golden time for remote stroke patients, making it an optimized platform for treating time-critical stroke patients in large areas like the United States.

The medical AI industry is closely watching the U.S. stroke AI market, which is expected to be reshaped into a three-way competition among the U.S.-based Rapid AI (www.rapidai.com), Israel's Viz.ai (www.viz.ai), and Korea's JLK.

Although Rapid AI and Viz.ai are already actively marketing in the United States, their solutions are limited to CT scans. Therefore, it is expected that JLK's comprehensive CT and MR solution will demonstrate its competitiveness. Furthermore, there is a prevailing opinion that JLK, currently valued at 185 million USD, will establish an equal footing with Viz.ai, valued at 1.27 billion USD, and Rapid AI, valued at 769 million USD, when it enters the U.S. market.

Moreover, AI in healthcare is drawing significant attention for its potential to reduce treatment costs and improve patient outcomes. A report from the Harvard School of Public Health indicates that integrating AI in healthcare can reduce treatment costs by up to 50% and improve patient outcomes by up to 40%.

Feedback from the medical community about AI in healthcare is overwhelmingly positive. According to a survey conducted by the American Medical Association last year, the majority of physicians believe that AI enhances diagnostic capabilities (72%), improves clinical workflow (69%), and clinical outcomes (61%), while reducing administrative burdens (54%), suggesting a growing adoption rate of AI healthcare solutions.

11 types of AI solutions for the entire stroke care cycle developed by JLK

Contact Information

PR Team, JLK Inc.

Myung Ki-Young, PR Team Leader (kymyung@jlkgroup.com / +82-10-8266-2194)

Lee Jeong-Heon, Assistant Manager (jhlee1@jlkgroup.com / +82-10-9123-6690)

Social Links

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Media Contact

Brand: JLK

Contact: PR Team

Email: kymyung@jlkgroup.com

Website: https://www.jlkgroup.com

SOURCE: JLK