Business
Medical imaging solutions company Medical IP from South Korea has entered into a new partnership with Amazon Web Services to bolster its digital transformation.
They signed a letter of support where they agreed Medical IP will migrate to the AWS cloud, starting with its flagship product, x-ray segmentation and quantitative analysis solution TiSepX, MEDIP PRO digital twin implementation solution and visual printing technology.
Through their collaboration, Medical IP will leverage AWS’s HIPAA-eligible data management service Amazon HealthLake in its cloud-native APIs. According to the company, it runs its medical imaging apps using a single, authoritative copy of data without creating multiple image data in the cloud, helping save the costs of storing medical images. Using AWS HealthLake, its apps will be able to conduct faster image searches and hasten research.
The company will also work with AWS to develop a digital twin platform that can turn medical images into digital representations of physical objects without limits in time and space using medical image-based AI segmentation and 3D implementation technology.
Additionally, Medical IP plans to use AWS’s global cloud infrastructure and services to develop a cloud-based medical image analysis platform optimised for global customers, including those in the US, China and the Middle East, strengthening its international competitiveness.
WHY IT MATTERS
By migrating to the AWS cloud, Medical IP’s technology is expected to “overcome limitations”; its medical image-based technology can now be deployed for multi-institutional joint research and real-time communications between institutions, transcending even geographical borders. Turning to the AWS cloud will also help with Medical IP’s seamless conduct of multi-institutional clinical trials for its medical imaging solutions.
Ultimately, this cloud migration gives Medical IP a competitive edge in the global medical imaging analytics software market, which was projected to be worth nearly $4.3 billion by 2025, according to Statista.
THE LARGER TREND
Their collaboration began in 2021 when Medical IP joined the AWS Diagnostic Development Initiative, which sought to help organisations apply cloud technology to accelerate diagnostics R&D. Through that very programme, the TiSepX was borne. Powered by AWS AI and ML services, the software solution evaluates the severity of COVID-19 on chest x-ray images.
Earlier this month, Medical IP received the approval of the South Korean Ministry of Food and Drug Safety for TiSepX. The company is working to get more overseas clearances for its software product and seek partners to adopt its technology. It is also set to begin clinical trials for TiSepX in New York as part of its application for a US Food and Drug Administration market approval.
ON THE RECORD
“Healthcare AI and the cloud are key technologies that can accelerate our journey in developing healthcare solutions. AWS’s support will serve as a cornerstone for Medical IP’s recognition and expansion into the global market,” said Sang Joon Park, CEO of MEDICAL IP.
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Lyndia Mote