The healthcare unit of South Korean diversified conglomerate Lotte has teamed up with iMediSync to co-develop new AI-driven healthcare companies.
Based mostly on a press launch, the 2 firms signed a memorandum of understanding to cooperate on a medium-to-long-term joint enterprise enterprise that leverages AI know-how for wellness and senior care. Additionally they intend to work collectively on some advertising and marketing and branding actions to advertise their upcoming tech choices.
WHY IT MATTERS
Based in 2012, iMediSync develops AI-based EEG screening instruments for diagnosing neuropsychiatric issues like Alzheimer’s illness.
Lotte Healthcare, which operates a cell well being app referred to as Cazzle, is contemplating providing iMediSync’s EEG screening functionality as a part of their collaboration. Cazzle harnesses AI and particular person well being data to supply personalised well being suggestions for customers.
THE LARGER CONTEXT
Lotte Healthcare appears to be zeroing in on psychological well being this yr. Early this yr, the corporate was reported to be one of many strategic buyers of Atommerce, the operator of the psychological healthcare app Thoughts Cafe in South Korea.
Its foray into the psychological well being area couldn’t come at a extra opportune time. When the pandemic shut clinics and hospitals for sufferers looking for consultations and remedy for psychological sickness, the speed of accessing psychological healthcare companies fell to just above a tenth of the South Korean inhabitants. Telemedicine and cell well being apps present an alternate possibility for accessing such wanted companies in a nation the place over 100,000 have been recognized with psychological issues and counting.
