We update our analysis of Revenio Group’s subsidiary Icare Finland Oy
​We update our analysis of Revenio Group’s subsidiary Icare
Finland Oy and revise our estimate of the valuation to 145 MEUR.
Icare’s business has developed very favorably and in accordance
to expectations since our last update in 3/2013. The main driver
for elevated value estimate in our report is the potential of the
new HOME product.
Icare continues to take market share from old technologies
Icare Finland Oy develops, sells and markets easy to use, portable and painless
tonometers. The products use Icare’s widely patented rebound technology.
Intraocular pressure measurement and continuous monitoring of intraocular
pressure has a central role in the treatment and screening of the 150 million
people suffering from glaucoma. Icare’s technology has continued to take
market shares from the older competing technologies, and revenue of the
company has quadrupled since 2008. The business is based on sales of
tonometer devices and corresponding disposable probes.
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