Subjects: CON, LIC
Waycen and MegaMind Sign AI Endoscopy supply Agreement to Medical market in the Middle East
SEOUL, South Korea, Feb. 19, 2024 /PRNewswire/ -- AI MedTech specialist Waycen (CEO Kim Kyungnam) announced on the 14th that they have signed a strategic sales agreement with Hamza Batterjee President & CEO MegaMind the largest healthcare specialized company in the Middle East located in Saudi Arabia, for its medical AI solutions and healthcare products.
Through this agreement, Waycen will leverage MegaMind IT Solution's extensive network in the Middle East healthcare market to introduce its artificial intelligence gastrointestinal endoscopy software 'WAYMED Endo' and AI respiratory self-screening service 'WAYMED Cough.' This collaboration aims to solidify Waycen's presence in the Middle East medical market.
MegaMind, IT Solution a specialized company located in Saudi Arabia, owns 13 group hospitals within the Middle East region. Additionally, it is actively engaged in digital projects with over 40 government and private healthcare institutions in Saudi Arabia. MegaMind plays a significant role in leading digital innovation in Middle Eastern healthcare institutions through projects such as establishing 15 to 25 data centers for Middle Eastern hospitals annually and collaborating with the government 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 involves collaboration for future product lineups, marking a new export opportunity in the thriving Middle Eastern healthcare market for K-Medical AI products.
Kim Kyungnam, the CEO of Waycen, stated, "With this agreement, MegaMind's 13 hospitals in the Middle East will start utilizing the artificial intelligence gastrointestinal endoscopy software, WAYMED Endo, within the year." He expressed his ambition to capitalize on the positive feedback from healthcare professionals at the hospitals in middle east already using WAYMED Endo to create successful cases in the Middle East market.
Hamza Batterjee, the CEO of MegaMind, expressed his confidence in the agreement, saying, " MegaMind has a mission and confidence to lead digital innovation in the Middle East healthcare market." He highlighted the growing desire for high-quality endoscopic medical services and increasing interest in respiratory health in the Middle East, making him confident in successfully establishing the value of Waycen's excellent medical AI technology in the Middle East market.
Waycen's WAYMED Endo is a medical device software that analyzes real-time artificial intelligence gastrointestinal endoscopy images. It is compatible with endoscopes from various manufacturers (Olympus, Fujifilm, Pentax etc.) regardless of the endoscope manufacturer's brand. And it has been recognized for its innovation by winning the CES Innovation Award for two consecutive years. In Korea, it has also received certification as a Breakthrough Device from the Ministry of Food and Drug Safety.
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