Neurofit and Medtronic Sign MOU for Brain Disease R&D Collaboration

[Asia Economy Reporter Hyunseok Yoo] Neurofit, a medical artificial intelligence (AI) solution specialist company, announced on the 21st that it will collaborate to expand its entry into the AI-based medical device market through a mutual business agreement with Medtronic Korea, a global therapeutic medical device company.

The business agreement signing ceremony was attended by Neurofit CEO Bin Jungil and Medtronic Director of External Cooperation Lee Jungwoo, along with officials from both companies.

Medtronic is the world's number one medical device company, providing medical devices in various fields such as cardiovascular diseases, neuromodulation, and minimally invasive treatments to more than 150 countries. The two companies have been continuously discussing technical cooperation since the Asia Innovation Conference hosted by Medtronic in 2018.

Neurofit has succeeded in product advancement and commercialization based on its outstanding technology in the brain field. The two companies agreed to join forces in research and development of diagnostic solutions and medical devices to address the unmet needs in brain disease treatment.

Through this business agreement, the two companies plan to collaborate on entering the AI-based medical device market in the fields of diagnosis and treatment research for cerebral aneurysm and cerebral artery stenosis. Neurofit will provide brain segmentation technology and brain imaging analysis technology for specific areas. Medtronic Korea, which has expertise in the medical device market, plans to provide consultation on AI-based medical device business strategies.

Neurofit CEO Bin Jungil said, "Through building a partnership with the world's best company, we have been able to secure various supports," and added, "We will do our best to become a global medical AI solution company that helps diagnose and treat brain diseases through this business agreement."

This content was produced with the assistance of AI translation services.