Vuno unveiled its strategy and vision on Monday to become a global leader in the artificial intelligence-based medical device market on the occasion of its initial public offering (IPO).

"Based on our Kosdaq listing, we will leap from a top AI-based medical device company in Korea to a global player," Vuno CEO Kim Hyun-jun said during a news conference ahead of the company's IPO. "We have a pipeline that encompasses diagnosis, treatment, and prognosis by analyzing data from various medical fields, such as medical imaging, pathology, biometric signals, and voice recording, using AI.”

The company has succeeded in commercializing eight medical AI solutions -- Vuno Med-Boneage, LungCT AI, Chest X-ray, Fundus AI, Dental AI, DeepCARS, PathGC AI, and DeepASR – Kim added. "Vuno can develop optimal medical AI solutions based on its original technology and its deep learning engine VUNO Net," he said.

Through such platforms, the company analyzes not only 2D images, such as X-ray, but also various medical data, such as radiographic images, including 3D images like CT and MRI, fundus images, pathology, and biological signals, according to CEO Kim.

The platform also makes it possible to commercialize products quickly through flexible core module construction and as a lightweight model that can combine with various medical devices, he added.

Vuno has already proven its unrivaled artificial intelligence technology and its solutions' clinical effectiveness and safety through global deep learning challenges and research papers published in world-renowned clinical journals and related conferences, according to the company.

Vuno has also established a business model optimized for software medical devices and expanding stable sales. The company offers its solution based on two systems -- the cloud-based pay-per-use billing policy for small clinics and an on-premise installation system for larger hospitals with their servers to ensure privacy.

It has opened a business-to-business (B2B) sales channel that sells to existing medical device companies to directly sell the product or install it on their hardware and software medical device products before sales.

The company's partners include UBcare and Leaders KR in Korea, M3 in Japan, and CHC group in Taiwan.

Vuno has retained existing customers through such a sales method, including more than 200 medical institutions while expanding its sales both locally and abroad every year.

"After listing, Vuno plans to strengthen overseas marketing of medical AI solutions by expanding strategic partnerships with leading global healthcare companies and medical institutions," Kim said. "We also will accelerate to expand our shares in the local and overseas market by expanding product pipelines to medical imaging, pathology and bio-signals in the clinical trial stages."

Vuno, founded in December 2014, is a medical artificial intelligence solution development company that developed the first AI-based medical device in Korea.

The company plans to offer 1,800,000 depository receipts at the offering price of 15,000 won to 19,500 won ($13.4-$17.4) per share to raise 27 to 35.1 billion won. It will finalize the offering price after estimating institutional investors' demands on Tuesday, receive general subscriptions from Feb. 16 to 17, and go public on Feb. 26.