The Corporate Acquisition is an integral part of Revenio’s strategy, and the Company takes with it a significant step towards software connected eye care. Also, the Corporate Acquisition supports
Oculo is an Australian eye care software platform, combining clinical communication, telehealth, remote patient monitoring and data analytics capabilities. The Oculo cloud-based software platform is transforming eye care by enabling and enhancing clinical collaboration, bridging disconnected data silos for sharing data and images and facilitating better and more cost-effective patient care in the eye care market. The Oculo software platform has already over 3.300 optometrists and 800 ophthalmologist users in
Established in 2016, Oculo’s net sales in 2020 were approximately AUD 1,614 thousand (excluding grant income) and the EBITDA approximately AUD -1,354 thousand (unaudited, Australian GAAP).
Key benefits of the acquisition:
Revenio takes a significant step towards software connected eye care, improving the productivity and quality of eye careRevenio gains access to ophthalmology related clinical communication, telehealth, remote patient monitoring and data capabilitiesRevenio further strengthens its position as one of the leading global players in ophthalmic diagnostic devices solutions- Oculo will also provide more comprehensive solutions for ophthalmologists to utilize Icare HOME tonometer, thus supporting the growth of the home monitoring market
Background and rationale
As the global population ages and has an increased prevalence of non-communicable diseases, the number of people with eye diseases is expected to increase significantly. According to the UN population forecast, the number of people over the age of 65 is expected to double globally to 2.1 billion by 2050. Glaucoma, diabetic retinopathy, and macular degeneration are all age-related eye diseases that increase significantly with age. Most vision loss can be prevented or treated with timely access to eye care. Increasingly, digital ophthalmic technology contributes to the diagnosis, treatment and monitoring of patients, so software and connectivity in growing in importance to promote the quality, affordability and accessibility to optimize eye care pathways.
”The software related solutions are significantly enhancing the patient eye care pathway and the processes of eye care professionals. There are tremendous opportunities in improving the productivity and quality of eye care, and we see improving the continuum of care through secure communications and teleophthalmology with Oculo as a key. The acquisition of Oculo marks Revenio’s strategic direction and commitment to connecting clinical care pathways and enhancing the quality of clinical information. We see the opportunity of putting the high-quality data that comes from Icare’s range of fundus imaging devices, perimeters and tonometers to even greater use. Oculo’s forward looking approach to connecting clinical teams and bridging their electronic health records and imaging systems is unique. We also share similar set of values that are driven by the ambition and commitment to exceed the customer expectations. I am extremely happy to welcome Oculo to join Revenio’s global and innovative team of professionals.”
”Our new partnership with
Professor
”Eye care is so reliant on imaging and functional assessment of the eye. More than almost any other speciality, eye care needs to digitize care. The era of teleophthalmology is clearly upon us. Both through Oculo and looking to the potential impact of home monitoring, I’ve seen how better tools and data can translate to better patient care.”
The financial impact of the Corporate Acquisition
Revenio’s relative investment level in R&D and sales and marketing will be on a somewhat higher level during 2021 and 2022 than during 2020. Oculo has no variable costs which is expected to improve the groups gross margin going forward. Sales of the Oculo software solution will also increase the recurring revenue portion of the
The cornerstones of Revenio’s
- Focus fully on the eye care market
- Improve the quality of clinical diagnostics with targeted product innovations
- Transform clinical care pathways with eye care focused software solutions
- Continue to develop stronger distribution and build on iCare brand awareness and client experience
- Continue strong profitable growth
For further information, please contact:
CEO
CFO
www.revenio.fi
DISTRIBUTION:
www.revenio.fi
The
The
In 2020, the Group's net sales totaled
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