Waycen and MegaMind Enter Joint Venture for AI Endoscopy Supply in Middle East's Medical Sector

19 February 2024

Waycen, a leader in AI MedTech, headed by CEO Kim Kyungnam, announced a strategic sales agreement with MegaMind, the largest healthcare company in the Middle East, based in Saudi Arabia and led by President & CEO Hamza Batterjee, on the 14th. This agreement will see Waycen supplying its medical AI solutions and healthcare products to MegaMind. Through the collaboration, Waycen plans to introduce its artificial intelligence gastrointestinal endoscopy software 'WAYMED Endo' and AI respiratory self-screening service 'WAYMED Cough' to the Middle Eastern healthcare market using MegaMind IT Solution's extensive network.

MegaMind IT Solution, a specialized company located in Saudi Arabia, manages 13 group hospitals across the Middle East and is actively engaged in digital projects with over 40 government and private healthcare institutions in Saudi Arabia. The company is at the forefront of digital innovation in Middle Eastern healthcare, annually setting up 15 to 25 data centers for regional hospitals and collaborating with governments and healthcare institutions for remote consultations and digitalization of medical data in the region.

This strategic sales agreement not only includes Waycen's flagship products, WAYMED Endo and WAYMED Cough, but also paves the way for collaboration on future product lines, presenting a new export opportunity for K-Medical AI products in the thriving Middle Eastern healthcare market.

WAYMED Endo, Waycen's innovative medical device software, analyzes real-time artificial intelligence gastrointestinal endoscopy images and is compatible with endoscopes from various manufacturers, including Olympus, Fujifilm, and Pentax. It has received recognition for innovation, winning the CES Innovation Award for two consecutive years, and certification as a Breakthrough Device from the Ministry of Food and Drug Safety in Korea.

Source: prnewswire.com