Olympus announced it inked a deal with private equity investment firm Revival Healthcare Capital to drive advancements in endoluminal robotics.
Together, Olympus and Revival plan to co-found Swan EndoSurgical. The new company will focus on developing a novel endoluminal robotic system for gastrointestinal (GI) patient care. The companies will jointly invest up to $458 million in the venture.
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Olympus said endoluminal robotics can potentially create new, significantly enhanced minimally invasive treatment options for unmet needs. It boost precision and efficiency in procedures addressing ergonomic strain for healthcare professionals, the company says.
The method builds upon endoscopy, the placement of a flexible camera into an existing body orifice. According to a news release, it yields early and accurate diagnoses of conditions like GI tract cancer. Recently, it has aided in cancer resection and other therapeutic procedures, too. However, manual endoscopes and instruments have limitations, Olympus 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 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. 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,” said Bob White, president and CEO at Olympus. “This will allow the delivery of transformative, organ-sparing care that enhances outcomes for a broad patient population.”
