Nijmegen, the Netherlands
Thirona, a global company specialized in advanced analysis of medical lung images with artificial intelligence (AI), announces the divestment of Thirona Retina BV ("Thirona Retina") to Revenio Group Corporation’s subsidiary Icare Finland Oy. Demonstrating impressive growth and tremendous market potential, the Retina division of Thirona was spun off into Thirona Retina in 2023 to focus entirely on the eye disease market.
By joining forces with iCare, a market leader in eye care solutions, Thirona Retina is poised to enhance patient outcomes and drive innovation in eye care. Leveraging iCare’s market presence and expertise, Thirona Retina will now bring its cutting-edge AI-driven RetCAD™ technology—designed to screen fundus images for diabetic retinopathy, age-related macular degeneration, and glaucoma—to a wider global audience, revolutionizing eye care. Integrated into iCare’s ILLUME and other retinal screening solutions, RetCAD™ has been consistently validated by independent clinical studies and has received strong customer reception across Europe and Asia-Pacific.
“After years of research and development, we’ve created a reliable, clinically validated product with a strong market presence. Combining our expertise with iCare’s resources will accelerate the adoption of RetCAD™ and broaden its impact, transforming eye care on a global scale,” said Mark van Grinsven,Managing Director of Thirona Retina. “As we continue supporting further development of the ILLUME solution, we will also maintain our commitment to offering RetCAD™ to other platforms and eye care providers. I’m looking forward to continuing this journey with the iCare team.”
“Icare and Thirona share the vision of developing AI-powered solutions that elevate patient outcomes. We’re proud of the rapid growth and market disruption achieved by our Retina division, and we look forward to seeing RetCAD™ grow further. This divestment allows Thirona to sharpen its focus on its long-term growth strategy in AI-driven lung imaging for pulmonary precision medicine and fuel new growth in the interventional pulmonology space.” - Eva van Rikxoort, CEO & Founder of Thirona
Since receiving U.S. Food and Drug Administration (FDA)510(k) clearance for its AI-based clinical software, LungQ™ (v3.0.0), earlier this year, Thirona has solidified several partnerships to enhance integration of the software into clinical settings. Furthermore, Thirona recently announced the addition of top clinical experts in interventional pulmonology and bronchoscopy to its Medical Advisory Board, further supporting its mission to develop personalized approaches to lung disease treatment.
At the time of our investment of Thirona, we agreed with Eva and the team to go forward with the company as two separate business lines, with the retina solutions having a totally different strategy and go to market versus the main pulmonary platform and its applications. We are very happy to conclude this process with the successful divestment of the RetCAD business to iCare. Within this bigger group, the RetCAD solutions can further grow, accelerate and broaden its impact on a global scale. We are very excited to further support Thirona on the road ahead in their state of the art pulmonary solutions.
- Katleen Vandersmissen, Managing Partner HERAN Partners
Download full press release here
About Revenio Group
Revenio is a global provider of comprehensive eye care diagnostic solutions. The group offers fast,user-friendly, and reliable tools for diagnosing glaucoma, diabetic retinopathy, and macular degeneration (AMD). Revenio’s ophthalmic diagnostic solutions include intraocular pressure (IOP) measurement devices (tonometers),fundus imaging devices, and perimeters as well as clinical software under the iCare brand.
In 2023, the Group’s net sales totaled EUR 96.6 million, with an operating profit of EUR 26.3 million. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.
About Thirona Retina
Thirona Retina’s product, RetCAD™, is MDR Class IIa certified AI-powered software that analyzes fundus color images for ocular diseases. It helps eye care professionals to diagnose and classify vision-threatening conditions at an early stage. RetCAD™ uses state-of-the-art deep learning and machine learning technology, leveraging large volumes of images assessed by experts to produce quantitative clinical results.
About Thirona
Thirona is a global company, specialized in advanced AI-based analyses of medical lung images. Thirona’s technology powers innovative solutions for treatment of lung diseases, with focus on interventional pulmonology and pharmaceutical drug development.
Thirona’s mission is to utilize Artificial Intelligence to advance personalized treatment of lung patients worldwide by contributing to enhanced precision, accuracy and effectiveness of treatment and minimally invasive interventions for pulmonary diseases.
Since its inception in 2014, the company has established a proven track record in translating technology into certified clinical end-products through co-innovation with leading MedTech companies. Clinical solutions with Thirona’s AI technology are installed in over 600 hospitals worldwide, aiding clinicians in the best possible patient care.
Thirona is backed by investment firms Heran Partners and Borski Fund.
For more information visit: thirona.eu
