NANO-X IMAGING, an innovative medical imaging technology company, announced that SK Telecom, one of Nanox’s current shareholders, will increase its stake in the Company with an additional $20 million equity investment.
This transaction follows the initial $5 million investment made by SK Telecom a year ago.
In addition, the Company and SK Telecom are entering into a joint collaboration aiming to increase accessibility to medical imaging for all socio-economic communities by deploying 2,500 Nanox Systems integrating the Company’s MsaaS (medical screening as a service) model in South Korea and Vietnam. Such deployment, subject to obtaining regulatory clearances, intends to democratize medical imaging and promote preventive healthcare through a significant increase of system availability in these markets.
In addition, the Company announces its intent to establish a wholly-owned Korean subsidiary that will focus on scaling up production of the Nanox X-ray source semiconductor while leveraging SK Telecom’s deep expertise in the area of semiconductors.
The Nanox System will offer a range of medical imaging services, from 2D X-ray to 3D Tomosynthesis computed tomography. The services are planned to be primarily operated on a pay-per-scan business model and include online radiology diagnostics and medical AI decision assistive algorithms implementation.