Business model

Last modified: 7.11.2019

Business model

Optomed is one of the leading providers of handheld fundus cameras1 and a provider of screening software for eye diseases aiming to transform the diagnostics of diabetic retinopathy.

We develop handheld fundus cameras and software solutions for the managing, screening and diagnosing eye diseases related to diabetes. We offer complete solutions that are easy to use and cost-efficient. The ones that can be used regardless of the location. Handheld devices allow fundus imaging locally, performed by all healthcare professionals.

Complementing business segments

Optomed has two synergistic business segments: Devices and Software. Combining these two segments provides us with strong capabilities to reform diagnostics and make screening accessible to an even larger group of patients. The Group revenue, is currently quite evenly split between the segments.

International customer base

We offer fundus cameras under our own Optomed brand, and we also develop devices for other manufacturers. We sell our products and solutions both through direct sales and through our distribution networks in over 60 countries, mainly in Europe, Asia-Pacific, and the Middle East and Africa. Our customers include healthcare professionals such as hospitals and eye clinics, opticians’ chains and stores, and major medical technology companies such as Volk Optical Inc., Carl Zeiss Meditec Inc., Haag-Streit Diagnostics and Topcon Medical Systems Inc.

Active product development

We employ over one hundred professionals working mainly in R&D and sales for cameras and software. We are continuously investing in research and development of both cameras and software, and have already 52 international patents. We evaluate artificial intelligence algorithm providers and implement the selected algorithms into our software solutions.

Patented high-quality technology

Optomed is a leading developer of handheld fundus cameras1 that has delivered more than 8,700 devices to the global market since 2013. Our product portfolio includes two handheld devices under the Optomed brand: Optomed Aurora and Optomed Smartscope PRO. In addition, Optomed develops cameras for the needs of other device manufacturers for their own brands.

Our patented high-quality optical lens solutions are a refined result of our intense, long-term product development. Our new illumination method and enhanced reflection control enable the high quality of our products. The cameras consist of interchangeable modular optics components, with increasingly extending the options for utilization.

Launched in 2017, the Optomed Aurora is a fifth-generation handheld camera with 50-degree field of view, high optical resolution and enhanced reflection control. Furthermore, the camera has a larger display and an updated user interface improving the experience for the user. Launched in 2013, the Optomed Smartscope PRO features a 40-degree field of view and an optical resolution of> 60 lp / mm. The device is a cost-effective choice that at the same time meets the international ISO 10940 resolution requirements for fundus cameras.

Software brings intelligence to cameras

Our software business operations started in 2018 with Commit; Oy becoming part of Optomed through an acquisition. Since its foundation in 1989 Commit has delivered over a thousand software projects to healthcare organizations across Europe. We offer screening software for diabetic retinopathy and a wide range of software solutions (Optomed Link, Optomed Avenue, Optomed Orbit ja Optomed Screen) tailored to the needs of our customers, harnessing artificial intelligence and automation. With the help of artificial intelligence, screenings can be expanded in the future to cover larger groups of patients. We work closely with selected algorithm providers.

With handheld cameras, screening scans can be taken anywhere. The images can be directly sent to hospitals and clinics for analysis through wireless network and our software. By connecting the camera with patient data management software, the cameras work seamlessly with hospital networks and practice management systems. Images can be graded automatically with artificial intelligence algorithms or remotely by an ophthalmologist through telemedicine. If the results are graded as normal, the system invites the patient to a follow-up visit within a specified time. Automated grading utilizing artificial intelligence improves and speeds up access to screening, reduces costs and improves the quality of screening.

 

1Zion Market Research: Global Fundus Cameras Market (2018). The management estimates that the company’s leading position is based on the share of revenue in the handheld fundus camera market that is generated from sales of cameras manufactured by the company and sold to end-users by the company’s OEM customers, distributors and directly by the company.