It takes years, sometimes a decade, to bring medical innovations to market. In 2012, Olea Medical wanted to hit the market and started looking for an investor who would be attentive, patient and trustworthy.
OLEA MEDICAL, designs and markets advanced solutions for post-treatment of medical images.
Founded in 2008
Founders : Fayçal Djeridane, Anca Mitulescu, Benoît Gy, Cyril Di Grandi
Fundraising : 2012/plus de 4M€.
Fund : Innovacom6
Vincent Deltrieu (Innovacom): we arrived in 2012 to speed up Olea’s development at a time when its innovations started wowing doctors and radiologists. Its scientific approach seemed to us a clear break with conventional methods of image analysis. The technology was originally designed to probe an organ as complex as the brain and had just proved its relevancy in emergency stroke treatment and brain tumours diagnosis. But it always held out the possibility that it could one day be used to diagnose and monitor other major organs thus offering the hope of a real and ambitious leap forward in patient treatment. This seemed to us a realistic prospect and we resolved to help make it happen. When we met Anca, Fayçal, Benoît and Cyril we were impressed by their expertise and their ability to move swiftly from ideas to concrete action. We were happy with the company’s track record so far and shared the same vision for the future. We were convinced that their electronic and software tools would soon become a must have for better and faster patient care. The company grew fast and established itself as a disruptive startup in the field until it was bought out by Toshiba Medical end-2015.
Anca Mitulescu (co-founder of Olea Medical): Throughout those years as a shared adventure, Innovacom’s approach was always deeply respectful. They knew how to provide a framework and a presence that helped get the best out of all of us, which was important to us as a close-knit team, motivated and driven by humanitarian values. On a day-to-day basis, Innovacom gave us invaluable support in managing our growth through relevant, clear and decisive advice. In our industry, it takes at least 5 years to bring products to market and this usually follows a 10-year development phase. We developed fast to our first sales and our expertise was quickly recognised among the medical community. Innovacom saw early this value and contributed to this success and it was not just a question of finance.
Olea Medical today supplies equipment to hundreds of hospital facilities around the world. It has been able to develop in partnership with the leading industrial companies in the sector, such as Toshiba which it linked up with in 2015. Its innovative solutions currently benefit a massive number of patients suffering from life-threatening illness (strokes, cancer).