[Click eStock] "JLK Holds World's Largest Stroke Solution... Expecting Growth in Scale with US Momentum"

DB Financial Investment highlighted the overseas expansion of JLK, which possesses the world's largest pipeline of AI solutions for stroke, in an industry report published on the 2nd. No specific investment opinion or target price was provided.

According to the report, JLK currently holds a total of 11 AI diagnostic solutions capable of addressing various aspects of stroke (12 as of the 3rd in the first half of the year), and as of Q2 2024, its solutions have been set up in more than 210 hospitals in South Korea.

This accounts for about 15% of domestic hospitals equipped with MRI/CT. JLK plans to expand its market share focusing on neurology, neurosurgery, radiology, and emergency medicine departments in tertiary and general hospitals where stroke diagnosis demand exists. The goal is to achieve a 57.5% penetration rate among domestic hospitals with MRI/CT installations by 2026.

Additionally, DB Financial Investment analyzed that JLK showed growth after obtaining FDA approval for its prostate cancer solution in the first half of the year, and approval within this year is also expected for JLK-LVO (large vessel occlusion detection), JLK-CTP (brain CT perfusion image analysis), and JLK-PWI (brain MR perfusion image analysis), all of which have already completed FDA application submissions.

In particular, the additional reimbursement fee (NTAP) for stroke diagnostic AI in the U.S. is set at a level more than 77 times higher than the non-reimbursed medical fees in Korea, which is expected to improve ASP and drive external growth through packaged sales of the stroke portfolio.

Attention was also drawn to ‘SNAPPY’ (hereafter SnapPi), a platform equipped with all of JLK’s developed stroke AI solutions. SnapPi enables real-time patient information sharing, which is essential for securing the golden treatment time and enhancing the convenience of multidisciplinary collaboration among physicians, making it indispensable for U.S. market entry.

Researcher Ji-eun Kim of DB Financial Investment stated, “JLK, the company with the world’s largest number of stroke AI solutions, appears to be in the stage of obtaining FDA approvals one by one,” adding, “It is known that submissions for the review of five stroke solutions will be completed within this year, making the momentum for U.S. expansion valid.”