Revival Healthcare Capital (Revival), an investment firm focused on transformative external innovation partnerships in MedTech is, pleased to announce a strategic partnership with Olympus Corporation (Olympus), a global healthcare leader committed to making people’s lives healthier, safer, and more fulfilling through advanced medical technologies and solutions, aimed at harnessing external innovation to accelerate development and market entry for an endoluminal robotics platform initially targeting gastrointestinal (GI) treatments.
As part of the collaboration, Revival and Olympus co-founded Swan EndoSurgical, Inc. (Swan) and will jointly invest up to $458 million into Swan to develop a purpose-built endoluminal robotics platform which will seek to provide earlier, safer, and more effective treatment of lesions or tumors in the GI tract relative to current therapeutic options. The investment is tied to certain pre-agreed milestone events, with Revival taking a majority equity stake and controlling position alongside significant participation from Olympus. This is a structured investment which provides Olympus an option to acquire Swan at a predetermined value while Revival has protective rights if Olympus chooses not to exercise its option.
“We are proud to partner with Olympus on this strategic program and believe the partnership model with Olympus for Swan will aid in maximizing the value of external innovation, aiming to deliver on our partner’s most important growth objectives,” said Rick Anderson, Chairman of Revival. “Together, we are committed to advancing the field of endoluminal robotics, which we believe ultimately benefits patients and providers worldwide.”
This collaboration leverages Revival’s flexible capital, leadership in build-to-buy external innovation models, and operational capabilities, together with Olympus’ core advanced visualization and GI endoscopy technologies into creating Swan. The intent of Revival’s build-to-buy model is to allow Swan to unlock value through harnessing the innovation culture, speed and cost efficiencies of a start-up while also aligning incentives to develop a purpose-built solution for Olympus that is additive and complementary to its own innovation pipeline. “We believe Olympus’ strategic decision to leverage external innovation in partnership with Revival can create a competitive advantage for Swan and Olympus as the ultimate owner in the future,” said Rick Anderson, Chairman of Revival.
Bob White, Representative Executive Officer, President and Chief Executive Officer at Olympus, expressed enthusiasm for the partnership: “Our collaboration with Revival reflects our dedication to external innovation and our strategic focus on expanding the role of robotics in surgery. We believe this partnership will accelerate the development of transformative solutions that address unmet clinical needs.”
Wilson Sonsini Goodrich & Rosati represented Revival in the transaction.
About Swan EndoSurgical
Swan EndoSurgical is an innovative start-up co-founded by Revival Healthcare Capital and Olympus that is focused on the development of endoluminal surgical robotics with the aim to create effective treatment of lesions or tumors in the GI tract relative to current therapeutic options. For additional information, visit the company’s website at www.swanendosurgical.com or contact info@swansurg.com.
About Olympus
At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide innovative solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit www.olympus-global.com/ and follow our global X account: @Olympus_Corp.
About Revival Healthcare Capital
Revival Healthcare Capital is an investment firm focused on the MedTech sector. Revival specializes in transformative external innovation partnerships and other opportunities where its team of experienced operators and investors believes it can provide leadership, resources, and deep sector insights - beyond its capital - to further support companies' growth strategies. For additional information, visit Revival’s website at www.rvlhc.com or contact info@rvlhc.com.
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Contacts
Lisa Rainone
info@rvlhc.com