Oculo In the News
Revenio Group Corporation: Revenio acquires Oculo and strengthens its expertise in clinical eye care software solutions
March 19 2021 – for immediate release
Revenio Group Plc today signed an agreement to purchase Australia’s Oculo. Both companies are very excited about their joint future and the opportunity to improve eye care around the world together.
Founded in 2015, Oculo is an Australian teleophthalmology and clinical communication platform company focusing on telehealth, remote monitoring, and clinical communications. The Oculo platform is designed to share clinical imaging, referrals, and other clinical correspondence securely and instantly between health care professionals. The acquisition is an integral part of Revenio’s growth strategy. With the acquisition, Revenio takes a significant step towards software connected eye care. Also, the acquisition supports Revenio's position as a key player in the field of comprehensive clinical eye diagnostics solutions and opens up new opportunities in the rapidly growing areas of eye related telehealth and technology-enhanced eye care models.
Jouni Toijala, CEO of Revenio, says “Software technology solutions are significantly enhancing patient eye care pathways and the clinical 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.”
He continues, “The acquisition of Oculo marks Revenio’s strategic direction and commitment to connecting clinical care pathways and enhancing the 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.”
Kate Taylor, Oculo’s Co-founder and CEO comments, ”Our new partnership with Revenio recognizes that we have built a teleophthalmology and clinical communication solution that is needed by eye care professionals around the world. We started with a vision to transform clinical eye care and collaboration. We are delighted that Revenio shares this vison and are looking to expand it globally.”
Professor Jonathan Crowston co-founded Oculo with Dr Taylor while he was Managing Director at the Centre for Eye Research Australia (CERA). He is currently at the Duke-NUS Medical School and Singapore Eye Research Institute added, ”Eye care is so reliant on imaging and functional assessment of the eye. More than almost any other speciality, eye care needs to digitise 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,”
Professor Keith Martin, the current Managing Director of CERA, adds, “A major part of CERA’s mission is to develop new technologies to improve eye health. We are so proud that Oculo, our first spin out company, is having such success in revolutionising communication between eye care professionals. Now, with Revenio’s strategy and support, we look forward to seeing even greater impact in the future.”
Dr Taylor remarks, “COVID-19 threw up all sorts of challenges for eye care and has created enormous pressures on eye care systems that were often already strained by patient demand. There are tremendous opportunities in this time of disruption to improve the productivity and quality of eye care, and we see improving the continuum of care through secure communications and teleophthalmology with Oculo as key.”
She observes, “It’s been an enormous journey since Jonathan and I had our first discussion. I know that we are extremely grateful to the Oculo team for their dedication and their passion for better patient care. Having the opportunity to work with great partners like Glaucoma Australia, Diabetes Australia, the Macular Disease Foundation Australia and Optometry Australia is a great privilege that we look forward to continuing and growing in Australia. In the US, we are very pleased to continue our great partnerships, including with the recent launch of our combined product Iviews Connect Powered by Oculo, and Topcon’s Harmony.”
She concludes, “We couldn’t have started without our first customers – Dr Michael Coote, who was the first ophthalmologist to sign on, Specsavers who was our first optometry customer, as well as OPSM and Bupa who collaborated on our initial beta-testing. We’ve also been so wonderfully supported by our shareholders, from Peter Gunn and Mark Kirkby as our seed angels, through to the many other angel investors who generously shared their expertise – people including Natasha Mandie, Michael Ilcyznski, Leigh Jasper, Simon McKeon and David Sagar. We are also grateful for the support over the years from EM Advisory who have been instrumental in the company’s growth.”
About the Revenio Group
Revenio is a health tech group operating on the international market and a global leader in ophthalmological devices. Revenio Group's ophthalmic diagnostic solutions include intraocular pressure (IOP) measurement devices (tonometers), retinal imaging devices, and perimeters under the iCare brand. The main tools for the detection and diagnosis of glaucoma and its monitoring during treatment are intraocular pressure measurement (tonometry), retinal imaging, and visual field tests (perimetry).
The Revenio Group comprises Revenio Group Corporation, Icare Finland Oy, Icare USA Inc., Revenio Italy S. R. L, CenterVue SpA, Revenio Research Oy, Done Medical Oy, and Oscare Medical Oy.
In 2020, the Group's net sales totalled EUR 61.1 million, with its operating profit standing at MEUR 17.1. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.
For further information, please contact:
CEO Jouni Toijala, tel. +358 50 484 0085 firstname.lastname@example.org
CFO Robin Pulkkinen, tel. +358 50 505 9932 email@example.com
Oculo is a secure, clinical communications and telemedicine platform. The Oculo platform facilitates the secure, instant transfer of clinical imaging for referrals, screening and shared eye care. Oculo’s HIPAA-compliant cloud-based solution connects providers to each other and to their patients to improve clinical outcomes and practice performance.
Oculo was co-founded by Professor Jonathan Crowston and Dr Kate Taylor in conjunction with the Centre for Eye Research Australia and is based in Melbourne, Australia. Since launching in 2015, Oculo has grown a user base of over 7 out of 10 eye care providers in Australia and New Zealand and has managed over 1,000,000 patients. Oculo is the technology partner for KeepSight, a Australian Government’s first-ever national diabetes eye care program.