First IPO by Korea’s medical AI solution firm due next month

2019.11.26 14:38:39 | 2019.11.26 14:39:17

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South Korea’s JLK Inspection will go public next month, becoming the country’s first artificial intelligence medical analysis firm whose stock to be traded on the Kosdaq market.

Founded in 2014, the company provides AI-based solutions to read medical imaging to identify potential disease cases and to bring security to industrial X-rays.

JLK Inspection has so far developed 37 AI-based solutions applicable to eight medical imaging modalities including MRI, CT and X-ray. The company posted 300 million won ($250,000) in sales with an operating loss of 4.6 billion won last year. But its technology expertise is promising with high grades of “A” and “BBB” recognized by two tech evaluators.

JLK Inspection CEO Kim Dong-min이미지 확대

JLK Inspection CEO Kim Dong-min

“Well-known venture capitals continued to participate in our series A, B and C investments, recognizing our long-term investment value. We expect to reach 10 billion won in sales within the next five years through full-scale product delivery from next year,” JLK Inspection CEO Kim Dong-min recently told Maeil Business Newspaper.

Book building for the company will take place on Nov. 26-27 and it aims to raise up to 29 billion won through the IPO. Public subscription is due on Dec. 2-3. Korea Investment & Securities lead manages the IPO process.

By Park Jae-young and Minu Kim

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