Olea Medical raises 4.2 M€ in venture funding

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INNOVACOM and EMAL invest in innovative medical imaging software provider.

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Olea Medical, a leading provider of advanced MR and CT perfusion imaging post-processing, announces the closing of a 4.2 M€ in fund raising to further accelerate its growth and international expansion.

This is the second round of fund raising since the creation of Olea Medical. The round was led by INNOVACOM with the participation of EMAL, Olea Medical original investor.

Created in July 2008, Olea Medical has continuously increased its portfolio of innovative software applications for MR and CT imaging post-processing, including in emergency settings. Their patented technologies are compliant with the DICOM standard and help standardize both viewing and analysis capabilities of functional and dynamic imaging datasets acquired with MRI and CT across vendors. Their applications run on any standard off-the-shelf workstation, regardless of the operating system, and can also be used through thin deployment.

Olea Medical’s competitive solutions allowing to speed-up and improve the diagnosis process are now implemented in major health care centers all over the world. With a portfolio covering all vendors and scan imaging modalities and a unique business model, Olea Medical accelerated the distribution of their products via partnerships with several major OEM.

“Olea Medical has convinced INNOVACOM with their large range of cutting-edge products that have already been adopted by KOLs in radiology in over 50 major centers around the world. Olea Medical’s dynamic team of experts coming from various industrial fields and having a rich cultural and professional background is also an asset of this growing company and a key to their success. These are assets we particularly value within the investment process” said Vincent Deltrieu, INNOVACOM.

Jean Gouverneyre, EMAL: “I am glad INNOVACOM joined EMAL in supporting OLEA MEDICAL to further develop their growth. As the original investor, I have trusted the founders of the company from the very beginning and accompanied them at each step of their development. I am particularly happy and proud to see the level they reached today”.

“Olea Medical is reaching now a major milestone in its development. Over the past years, we have gained recognition from neurologists and neuroradiologists for our expertise in neuro-imaging. With our latest products we are now covering the whole body, regardless of the modality employed for image acquisition. This is a tremendously important development, especially for oncology but also for hepatic disorders or kidney dysfunction. » says Fayçal Djeridane, president and CEO of Olea Medical. « We focus our efforts on continuously designing future innovative modules, to cover various modalities and address medical needs in the assessment of particularly devastating diseases. Our commitment is to provide a widely accessible, complete package of simple, safe, fast and accurate tools for full-body image post-processing in order to help doctors improve the diagnosis and follow-up process for patients’ benefit. Such high standards can only be reached by partnerships we have been building with expert doctors, major OEM and investors that trusted us”, he added.

About EMAL
EMAL is a privately owned portfolio management society located in Belgium. EMAL's mission is stake acquisition in operating companies in various fields of activity.

About INNOVACOM
With 300 million Euros under management INNOVACOM is a leading investment firm in Europe providing equity financing to high-growth companies from early stage to expansion. Since its creation in 1988 in France where it pioneered venture capital industry INNOVACOM has helped 300+ innovative companies in technology, media and telecommunications launch and grow their business internationally. Focused on hardware, software, contents and services bringing high value to people and organizations its 100+ portfolio exits through trade sale or IPO include success stories like Business Objects, Soitec, Gemplus, Kelkoo, Auféminin, Inventel, Netcentrex, Mobile Complete, Steek, Streamezzo, Owlient or Digitick.
Working with some of the brightest minds in the Information Technology business, Innovacom is also an active investor uniquely positioned to provide its portfolio companies with business development support towards the best partners. For more information visit http://www.innovacom.com

About Olea Medical
Olea Medical designs and markets innovative medical imaging applications that significantly improve diagnostic processes and treatment evaluation. Olea Medical aims to become the leading provider of safe and accurate medical imaging software. More information at http://www.olea-medical.com.

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Anca Mitulescu, PhD
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