Olympus to establish series of digital excellence centers

Jun 22, 2023

June 6, 2023 By Sean Whooley

Olympus announced that it plans to establish a series of digital excellence centers (DECs) following its acquisition of Odin Vision.

London-based Odin Vision develops a portfolio of commercially available computer-aided detection/diagnostic (CAD) solutions. It also holds an innovation pipeline of cloud-enabled applications. Olympus agreed to acquire cloud-based Odin Vision in a $79 million deal late last year. The company said the acquisition strengthened its strategy around initiatives in digital health. It aims to progress its AI-powered real-time diagnosis and minimally invasive treatment offerings.

Using Odin Vision's solutions with its core endoscopy portfolio, Olympus plans to collect and analyze procedural, clinical and medical device data in real-time. Powered by a new, modern digital platform, the company seeks to reduce administrative and cognitive burdens while improving operational efficiency.

"As a leader in endoscopy and innovator in the space, Olympus is passionate about delivering the next generation of intelligent integrated solutions and insights to healthcare providers," said Shawn LaRocco, global VP customer solutions, responsible for the digital health business at Olympus. "However, we cannot do it alone and are continuously looking to partner with other pioneers like Odin Vision who share this passion."

In order to enable the new commercial strategy, Olympus plans to establish its DECs to develop digital solutions globally. It intends to begin in London upon groundwork already laid by the acquisition of Odin Vision.

On top of its portfolio, Odin Vision brings to Olympus its renowned AI and software expertise and development capabilities, the company said.

According to Olympus, the company plans to locate DECs at current R&D sites in Hamburg, Boston and Tokyo. The company plans to explore potential expansions to Silicon Valley and Tel Aviv at a later stage.

"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.

Filed Under: Business/Financial News, Digital Health, Endoscopic, Health Technology, Software / IT Tagged With: Odin Vision, Olympus