US-backed AI retinal imaging company Optain Health will grow its presence in Melbourne after backing from the Victorian government, with plans for a new Asia-Pacific headquarters and an expanded research and engineering hub.
Optain’s core technology was first developed in Victoria before being commercialised through a joint venture between Aegis Ventures and the investment arm of Northwell Health.
The company has since scaled internationally, launching in the United States with backing from global software investor Insight Partners and several major US health system investors.
The technology enables non-invasive eye scans to help detect conditions such as diabetic retinopathy, glaucoma and macular degeneration earlier, as well as assess cardiovascular risk.
The Melbourne expansion will create 49 new jobs and invest $10 million in local R&D, allowing Optain to develop new AI applications for faster and more accurate disease detection and to advance research in oculomics – the study of the eye as a window into overall health.
The company said its new Asia-Pacific base would deepen partnerships with Victorian universities, hospitals and technology firms.
Optain chief executive Jeff Dunkel said Melbourne offered “a unique combination of world-class technology talent, proactive government support, and a proven track record of exporting breakthrough products globally”.
Victoria’s Economic Growth Statement last year named health technologies and medical research as one of five priority sectors for attracting investment and creating high-skill jobs.
The government said Optain’s expansion reinforces the state’s position as a national centre for medical AI and health technologies. The nature of Victoria’s support for Optain is understood to be commercial-in-confidence.
Minister for Economic Growth and Jobs Danny Pearson said the project “will improve the accessibility of healthcare – and further cement Victoria’s standing as a global leader in medical research and digital technology adoption”.
“This exceptional technology was developed right here in Victoria and taken to the world, and now this APAC R&D hub will create more jobs and opportunities for locals and boost economic growth across the state,” he said.
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