Number of the day - 458m

 

"Olympus Corp. announced that it has agreed to partner with investment firm Revival Healthcare Capital to drive advancements in endoluminal robotics: the companies will jointly invest up to $458 million in the venture to co-found Swan EndoSurgical Robotics.  The new company will focus on developing a novel endoluminal robotic system for gastrointestinal (GI) patient care. 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. The structured investment provides Olympus an option to acquire Swan EndoSurgical at a predetermined value, while Revival has protective rights if Olympus chooses not to exercise its option."