Lunit Subsidiary Volpara Appoints Craig Headfield as New CEO

Craig Hadfield, Overseeing Finance and Customer Operations at Volpara for Nine Years

Craig Headfield, the new CEO of Volpara. Photo by Lunit

Medical artificial intelligence (AI) company Lunit announced on the 26th that it has appointed Craig Hadfield (photo), former Chief Customer Financial Officer of Volpara, as the new Chief Executive Officer (CEO) of its subsidiary Volpara Health.

Newly appointed CEO Hadfield will lead Volpara starting April 1 this year. CEO Hadfield is a certified public accountant who earned a Bachelor’s degree in Accounting and Finance and an Accounting Higher Diploma from the University of Witwatersrand in South Africa. He joined Volpara in 2016 and has played a key role in the company’s growth over approximately nine years, serving as Financial Controller (FC), Chief Financial Officer (CFO), and Chief Customer Financial Officer (CCFO).

Before joining Volpara, he worked at global accounting firms Ernst & Young (EY) and Deloitte, and is a global finance expert with experience working in South Africa, New Zealand, the Bahamas, and the United States. After joining Volpara, he transitioned the revenue structure to a subscription-based software (SaaS) model, increasing annual sales from 1 million USD (approximately 1.4 billion KRW) to 30 million USD (approximately 43 billion KRW), more than 30 times growth.

During the same period, the market capitalization grew more than fourfold from 70 million Australian dollars (approximately 63.8 billion KRW) to 300 million Australian dollars (approximately 273.4 billion KRW), driving significant growth. In particular, based on his successful experience in numerous mergers and acquisitions (M&A), he played a pivotal role in Lunit’s acquisition of Volpara and is currently leading the post-merger integration (PMI) efforts, making him a promising figure to ensure stable management as the new CEO.

Seob Beom-seok, CEO of Lunit, said, "New CEO Hadfield is the person who understands Volpara’s growth process and business most deeply, making him the optimal leader for stable integration and synergy creation between the two companies," adding, "We expect that his expertise in finance and M&A will enable both companies to achieve innovative results in the global medical AI market."

Craig Hadfield, the new CEO of Volpara, said, "Based on my accumulated understanding and expertise in Volpara’s medical and U.S. business, I will focus on expanding global influence together with Lunit," and added, "In particular, I will strive to realize business synergies between the two companies early on to provide better value to global medical AI customers."