SK Telecom Further Invests in Medical Imaging Startup Nanox

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. 

Park Jung-ho, CEO of SK Telecom
We see Nanox as one of the most promising companies to make a real difference for early detection of disease and higher standard of care to the humankind. 

Ran Poliakine, CEO of Nanox
Nanox’s vision is nothing short of helping eradicate cancer and other conditions that plague us by increasing early detection of medical conditions that are discoverable by X-ray. 

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