Olympus Corp., a global medical technology company, today announced that it has agreed to partner with investment firm Revival Healthcare Capital to drive advancements in endoluminal robotics. Together, Olympus and Revival plan to co-found Swan EndoSurgical Robotics.
The new company will focus on developing a novel endoluminal robotic system for gastrointestinal (GI) patient care. The companies said they 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. The structured investment provides Olympus an option to acquire Swan EndoSurgical at a predetermined value, while Revival has protective rights if Olympus chooses not to exercise its option.
Swan EndoSurgical to enhance minimally invasive treatment
Olympus said endoluminal robotics could significantly enhance minimally invasive treatment options for unmet needs. It can boost precision and efficiency in procedures by addressing ergonomic strain for healthcare professionals, said the Tokyo-based company.
The method builds upon endoscopy, the placement of a flexible camera into an existing body orifice. Endoscopy can yield early and accurate diagnoses of conditions like GI tract cancer, according to Olympus. This approach has also recently aided in cancer resection and other therapeutic procedures. However, manual endoscopes and instruments have limitations, the company 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,” said Bob White, president and CEO of Olympus. “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. This will allow the delivery of transformative, organ-sparing care that enhances outcomes for a broad patient population.”
RoboBusiness, DeviceTalks West to discuss surgical robotics
Surgical robotics will be on the agenda at RoboBusiness, the premiere event for developers and suppliers of commercial robots that takes place Oct. 15 and 16 in Santa Clara, Calif.
Iman Jeddi, senior vice president and general manager for da Vinci platforms and product operations at Intuitive Surgical, is delivering the event’s closing keynote. In an exclusive interview, she will offer a rare look inside the redesign and launch of the da Vinci 5, Intuitive’s next-generation surgical robotics system.
Editor’s note: This article was republished from The Robot Report sibling site MassDevice.
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