Revenio: iCare and Evolucare have launched a distribution partnership in AI solutions

Translation: Original comment published in Finnish on 5/8/2023 at 10:55 am.

iCare and OphtAI, a French Evolucare Technologies company, have launched a distribution partnership. iCare will now offer OphtAI analysis in EMEA and Canada for its iCare ILLUME retinal screening solution based on retinal images. The news does not affect our estimates or our view of Revenio, but we see this as a positive step on the company's path towards more holistic solutions.

OphtAI included in the range of services

Revenio has previously worked with Thirona, an AI service, but it has been known that more AI partners are on the way. The ILLUME platform is independent of the AI provider, so Revenio can establish new AI partnerships and easily add them to the platform. OphtAI expands Revenio's offering and is particularly strong in France, but the partnership covers the whole of EMEA and Canada. iCare has been a distributor of Thirona's AI service in Europe, but to our understanding, not in Canada.

In the future, Revenio's product and service range will certainly be expanded to other regions, the most interesting of which is the United States. However, the path there is longer because FDA approval must be obtained for the combination of device and AI solution, meaning that separate approvals for the device and AI are not enough. Yet another AI partner could be utilized as well.

OphtAI is one of the major AI providers in the sector

OphtAI is one of the most advanced AI retinal image analysis providers. The iCare ILLUME retinal screening solution uses AI-generated image analysis for diabetic retinopathy screening and, in the future, for other eye diseases. Revenio has validated the performance of the OphtAI solution.

At the heart of the iCare ILLUME solution that supports clinical decision-making is the high-quality image data generated by iCare's fundus imaging devices and the associated cloud-based software solution. Artificial intelligence enables the efficient processing of large numbers of images, thereby improving screening accessibility. The holistic solution optimizes patient care pathways and the processes of eye care professionals.