Icare Finland Oy acquires Thirona Retina
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Icare Finland Oy, a subsidiary of Revenio Group, has signed an agreement to acquire the AI software company Thirona Retina, according to a press release.
The 4.8 million euro acquisition is an extension of Icare’s 1.9 million euro minority investment in Thirona Retina in 2023.
RetCAD, Thirona Retina’s AI technology, screens fundus images for ocular diseases such as diabetic retinopathy, glaucoma and age-related macular degeneration. The technology is integrated into the iCare Illume retinal screening solution, according to the release.
Revenio said the acquisition is part of its larger goal to improve ophthalmic diagnostics.
“We see that AI will increasingly be integrated into a wide range of products,” Revenio CEO Jouni Toijala said in the release. “With the addition of Thirona Retina, we are better positioned to develop other AI-based solutions for eye care to support clinical decision-making. Thirona Retina will continue to sell RetCAD artificial intelligence solution to other vendors in the industry. We will also continue our previous cooperations with other artificial intelligence providers. We want to deliver a comprehensive AI-based eye health solution to meet the needs of all our customers.”
Thirona Retina’s managing director Mark van Grinsven said joining Icare allows the company to reach more patients.
“We will continue to cooperate with our existing customers with even stronger resources,” he said in the release. “We are excited to embark on this new chapter and look forward to the impactful advancements we will achieve together.”
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