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| SK Telecom Park Jung-ho speaks during a press conference on the sidelines of this year's Las Vegas technology exhibition in this file photo. Courtesy of SK Telecom |
By Kim Yoo-chul
SK Telecom, the country's largest mobile carrier, was discussing with Israeli imaging company Nanox to construct a possible manufacturing facility in South Korea, under which the carrier's semiconductor affiliate ― SK hynix ― will fabricate semiconductor chips for use in Nanox' various digital X-ray devices.
"Various scenarios are under review. Yes, constructing a new facility in South Korea by teaming up with Nanox is one viable option, which does make sense given continued solid demand in devices crucial to healthcare-oriented industries," one SK executive said by telephone, Friday. But he didn't elaborate further.
SK Telecom said it has invested $20 million in the Israeli company as Nanox is preparing for a Nasdaq listing. Thanks to the investment, SK has become the second-largest shareholder in Nanox. Plus, Nanox appointed SK Telecom CEO Park Jung-ho to its board of directors.
Nanox has developed a miniature version of an X-ray device making it possible to generate a 3D image, using using very thin and advanced memory chips. The device is customized to provide a cheap, small and mobile alternative to CT devices, and to facilitate diagnosis of cancer and other serious diseases under "field conditions," according to reports. A CT scanner currently and widely costs "several million dollars," while Nanox's device is estimated to only cost around $10,000.
But one interesting point for the SK-Nanox partnership was that Nanox was originally founded in the previous decade by Japanese venture capital guru Hitoshi Masuya as a joint investment with Sony. Masuya joined forces with entrepreneur Ran Poliakine to establish Nanox with offices in Israel and Japan with Poliakine in charge and Masuya managing activity in Japan.
Given Sony's indisputable competitiveness in managing "image sensor tech," in which SK has a weaker presence unlike its leadership in memory chips, expectations were that the partnership will help SK assess Nanox's image sensor-related patents.
Nanox's unique business model will allow wide distribution and accessibility, and will charge health providers with a pay-per-scan service model. The company's goal is to drive early detection preventive healthcare as a new standard of care. The Nanox system will be available globally in 2021, Nanox said.
SK Telecom said the company is particularly interested in investing more in businesses, which are sync with biotech, fifth-generation (5G) and artificial intelligence (AI) industries as SK Group has relevant affiliates in these sectors.
"What synergies we will see from the investment is that the recent deal will help SK see extra chance for external growth in the next-generation visual medical equipment market, which we think is highly promising," an SK Telecom official said, adding SK will handle sales and marketing for Nanox-developed healthcare products in Vietnam and South Korea. "Once necessary procedural steps are done in South Korea and Vietnam, SK Telecom plans to sell devices developed by Nanox to hospitals and other healthcare institutes there."
SK Telecom recently acquired a security service provider ADT Caps in an attempt to explore new business models with the acquisition by implementing AI, the internet of things (IoT), big data and physical security.
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