JPI Healthcare to sharpen focus on precision imaging, AI diagnostics after Kosdaq debut < Device/ICT < Article

JPI Healthcare, a Korean digital X-ray imaging solutions company, outlined its global growth strategy and future vision following its planned Kosdaq listing during a press conference in Yeouido, Seoul, on Wednesday.

“We are combining world-class X-ray grid technology with next-generation imaging devices, AI solutions, and cloud-based platforms to redefine the precision diagnostic landscape,” said CEO Kim Jin-guk. “Our IPO will serve as a springboard to accelerate global expansion and secure new growth drivers in the fast-evolving medical imaging market.”

The company plans to raise up to 31.6 billion won ($22.7 million) through its initial public offering, offering 1.58 million shares at a price range of 16,500 to 20,000 won per share. Institutional investor bookbuilding will run until Thursday, followed by retail subscription on Aug. 11–12, with a targeted listing later in August.

Kiwoom Securities is the lead underwriter.

Proceeds will fund the consolidation of JPI’s manufacturing facilities in Ansan and Siheung into a new plant equipped with automation systems to improve efficiency and scale up production of its core products, including grids, StriXion, and DeteCT.

Kim stressed that precision imaging, driven by rising chronic disease prevalence and early cancer detection needs, is anticipated to be among the fastest-growing segments.

“Positioning ourself for this trend, JPI is building a ‘smart imaging platform’ that integrates X-ray components, advanced imaging devices, proprietary software, AI-based image enhancement tools, and cloud-based remote reading and generative AI diagnostic support,” Kim said. “The platform targets both human and veterinary markets, with our veterinary imaging software and cloud PACS already gaining traction.”

JPI is also developing customized, high-specification grids that can deliver up to 10 times higher margins than standard products, Kim added.

Kim stressed that these are aimed at applications such as high-precision radiotherapy and angiography equipment, in collaboration with top-tier global medical device companies.

Meanwhile, JPI Healthcare, founded in 1980, holds a commanding 40 percent share of the global X-ray grid market, an essential component used to eliminate scatter radiation and enhance image clarity in X-ray imaging.

The company remains the world’s only manufacturer capable of producing both aluminum and carbon grids, including high-specification models up to 250 LPI.

Leveraging its grid technology, JPI has expanded into advanced diagnostic imaging devices, targeting growing demand for precision imaging.

Its flagship products include StriXion, Korea’s only digital tomosynthesis (DTS) system specialized in detecting microfractures and joint disorders, and DeteCT, a mobile CT scanner that integrates CT, general radiography, and fluoroscopy in a single unit. Both products offer space efficiency and cost advantages, appealing to small and mid-sized hospitals as well as veterinary clinics.

JPI currently operates in 77 countries through more than 300 distribution networks, with subsidiaries in key markets such as the U.S. and Japan. Over 80 percent of its revenue comes from overseas sales.

In 2024, the company reported 40.2 billion won in revenue and 5.5 billion won in operating profit.