Expanding into Southeast Asia Market, Anticipates Collaboration with Local Hospitals

AITRICS, a leading medical AI company, announced 23rd that it has got medical device approval from the Vietnam Ministry of Health for its AI-powered patient deterioration prediction solution, 'AITRICS-VC (VitalCare)'.

AITRICS' VitalCare analyzes up to 19 types of EMR (Electronic Medical Records) data of hospitalized patients to predict the risk of patient deterioration at an early stage. VitalCare can accurately predict the following: ▲Major Adverse Events(Mortality, Unexpected ICU transfer, cardiac arrest) within 6 hours in general wards ▲Sepsis within 4 hours in general wards ▲Cardiac arrest within 24 hours in general wards ▲Mortality within 6 hours in the ICU.

The medical device market in Vietnam is gradually expanding due to active investments in the healthcare sector and an increase in the healthcare budget. The Vietnamese medical device market has been growing at an average annual rate of 8.76% since 2016, and is expected to reach a market size of $2.575 billion by 2025.

In line with this growth, AITRICS plans to strengthen its overseas business by using the medical device approval in Vietnam as a stepping stone to enter the Vietnamese market. The company aims to improve the quality of healthcare services and enhance patient safety in Vietnam through the widespread adoption of VitalCare.

Kwang-Joon Kim, CEO of AITRICS, commented, "The approval for sales in Vietnam is expected to serve as a gateway for expansion into the Southeast Asian market. Building on this success, we will accelerate our global activities and achieve meaningful results in the U.S., Southeast Asia, and Europe."