Lunit Appoints Volpara CEO Teri Thomas as Chief Business Officer of Cancer Screening Group

Seasoned medical technology leader to drive global expansion and innovation in AI-driven cancer screening

SEOUL, South Korea, July 10, 2024 -- Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, today announced the appointment of Teri Thomas as Chief Business Officer (CBO) of its Cancer Screening Group, effective July 1. While taking on this additional role, Thomas will continue serving as CEO of Volpara Health Technologies, which Lunit acquired in May 2024.

▲Teri Thomas, newly appointed CBO at Lunit, brings extensive experience and leadership to the team (Photo credit: Lunit)

Thomas, an American based in New Zealand, brings over 25 years of executive management experience in healthcare IT to her new role. Her expertise spans strategy, operations, global sales, marketing leadership, with a deep understanding of the US healthcare market. Thomas's career includes a notable 20-year tenure at Epic, a global healthcare systems provider, where she played a pivotal role in the company's growth from under 100 employees to over 10,000.

As a registered nurse with a Master of Science degree, Thomas offers a unique perspective on the intersection of IT, clinician workflow, and patient experience. Her background includes executive roles at population health firm Orion Health and leading IT innovation at the University of North Carolina Health Care.

In her expanded role, Thomas will spearhead sales and marketing efforts for both Lunit and Volpara Health. She will focus on expanding Lunit's business in the US and EMEA (Europe, Middle East and Africa) markets in 2024, followed by further territorial expansion from 2025 onward.

"We are thrilled to welcome Teri Thomas to our leadership team," said Brandon Suh, CEO of Lunit. "Her extensive experience in healthcare IT and proven track record of driving growth will be invaluable as we continue to expand the reach of our cancer screening technologies globally."

Thomas expressed her enthusiasm for the new role: "I'm excited to join Lunit and lead the Cancer Screening Group. Our combined expertise in AI and breast health presents a unique, holistic AI suite to make a significant impact on early cancer detection and ultimately save lives."

The strategic acquisition of Volpara by Lunit in May 2024 has created a powerhouse in AI-driven cancer care. This merger combines Lunit's AI-powered cancer screening solutions with Volpara's established market presence in breast health, positioning the unified company at the forefront of AI-driven cancer detection and personalized cancer care solutions.

Thomas's appointment comes at a time of strong financial performance for Volpara. The company recently reported a robust 30% year-over-year increase in revenue for the first half of the fiscal year. Additionally, Volpara achieved a net cash flow positive position marking a significant turnaround from a net outflow during the same period last year, representing a 196% improvement (excluding acquisition-related costs).

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