Alpha Holdings, Entry into the Global AI Ultrasound Remote Medical Market

[Asia Economy Reporter Hyunseok Yoo] Alpha Holdings announced on the 23rd that it will make a full-scale entry into the global telemedicine market by investing in the US ultrasound medical imaging AI company A.

A was jointly established in 2018 by Israel's Weizmann Institute of Science and New York University (NYU), which has one of the world's top medical centers specializing in cardiovascular diseases, as an AI imaging diagnostic venture company.

A's AI navigation technology, developed in-house, allows even laypersons and non-experts to easily perform expert-level cardiac ultrasound examinations by simply installing its proprietary ultrasound imaging AI program on tablets and smartphones. According to the company, the AI technology can provide the results of the examination within 15 seconds. Additionally, the on-site AI technology is not limited to specific diagnostic devices and is compatible with most portable ultrasound diagnostic devices released by global companies such as GE and Philips.

Fortune Business Insights forecasts that the global telemedicine market size will grow rapidly at a compound annual growth rate of 23.4%, from $49.8 billion in 2018 to $266.8 billion by 2026.

An Alpha Holdings official said, "Butterfly Network, a US company similar to A, applied AI technology only to ultrasound devices operated by experts, yet recently received external investment valuing the company at 1.5 trillion KRW. Considering that A's AI technology allows even laypersons to easily perform ultrasound diagnostics without being dependent on specific equipment, it is expected to grow to a significant valuation in the future."