Olympus, a global medical technology company, announced today that it inked a deal with investment firm Revival Healthcare Capital to drive advancements in endoluminal robotics. Together, Olympus and Revival plan to co-found Swan EndoSurgical.
The new company will focus on developing a novel endoluminal robotic system for gastrointestinal (GI) patient care. The companies will jointly invest up to $458 million in the venture.
The investment is tied to certain pre-agreed milestone events, with Revival taking a majority equity stake and controlling position alongside significant participation from Olympus. This is a structured investment which provides Olympus an option to acquire Swan at a predetermined value while Revival has protective rights if Olympus chooses not to exercise its option.
Olympus said endoluminal robotics can potentially create new, significantly enhanced minimally invasive treatment options for unmet needs. It boost precision and efficiency in procedures addressing ergonomic strain for healthcare professionals, the company says.
The method builds upon endoscopy, the placement of a flexible camera into an existing body orifice. According to a news release, it yields early and accurate diagnoses of conditions like GI tract cancer. Recently, it aids in cancer resection and other therapeutic procedures, too. However, manual endoscopes and instruments have limitations, Olympus said.
Developing an endoluminal robot enables easy maneuvering and flexible arm deployment within the GI tract. It provides the opportunity to deliver safe, effective surgeries while potentially avoiding invasive procedures. The surgical robot could rival the likes of EndoQuest Robotics, which is advancing its own endoluminal system.
Olympus said Swan EndoSurgical has already assembled an experienced leadership team and will be headquartered in the U.S.
“This partnership marks a significant milestone in our strategic initiative to advance endoluminal robotics. We are excited to enter this collaboration that we expect to play a pivotal role in reshaping the GI market by expanding procedural capabilities for physicians,” said Bob White, president and CEO at Olympus. “This will allow the delivery of transformative, organ-sparing care that enhances outcomes for a broad patient population.”
Surgical robotics will be on the agenda at RoboBusiness, the premiere event for developers and suppliers of commercial robots that takes place Oct. 15-16 in Santa Clara, Calif. Iman Jeddi, senior vice president and general manager, da Vinci platforms and product operations at Intuitive Surgical is delivering the event’s closing keynote. In an exclusive interview, Jeddi will offer a rare look inside the redesign and launch of the da Vinci 5, its next-generation surgical robotics system.
Editor’s Note: This article was republished from sister website MassDevice.
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