Olympus eyes digital health growth following recently acquired cloud-AI software
Summary
In December 2022, Olympus agreed to buy Odin Vision – a London, UK-based cloud-AI endoscopy start-up – for an upfront cost of $79m. “It brings the promise of AI-powered real-time diagnosis and minimally invasive treatment of chronic diseases closer to reality,” Olympus said in a statement. The company plans to harness medical data and use AI algorithms to assist healthcare professionals with timely information as it aims to expand its digital health capabilities. “As Olympus looks to expand development capabilities in digital solutions, establishing DECs around the globe will allow us to access critical talent and to develop partnerships with start-ups and other companies who, like Odin Vision, are pushing the envelope of creative innovation,” said Karsten Klose, Global Head of Digital at Olympus. Two weeks later, however, Olympus received a warning from the US Food and Drug Administration regarding poor manufacturing practices for its endoscopy devices.