What Retmarker does

Retmarker S.A. is a Coimbra, Portugal-based medical-device software company that builds AI-driven retinal image analysis tools to detect and monitor diabetic retinopathy (DR) and age-related macular degeneration (AMD). Its core technology applies computer vision to color fundus photographs to detect microaneurysms and other lesions; the proprietary co-registration algorithm licensed from Portuguese research institute AIBILI enables temporal comparison of retinal images to compute microaneurysm formation and disappearance rates, supporting prediction of sight-threatening DR complications. The product suite comprises three modules — Retmarker DR Screening (population-based screening, Class IIa certified in the EU and approved in Australia), Retmarker DR Biomarker (EMA-recognized for clinical-trial patient enrichment), and RetmarkerAMD Research (validated in Nature: Eye, 2019) — serving DR screening providers, clinical-trial sponsors, and AMD researchers.

The company sells primarily through B2B direct sales in Portugal (Retmarker S.A.) and via distribution partner Meteda s.r.l. in Italy and the broader EMEA region. Pricing is quote-based and not publicly disclosed; revenue streams consist of medical-device software licensing on a recurring basis plus professional services for implementing population-based screening programs. Retmarker was founded in December 2008 as a spin-out of Critical Software (originally Critical Health S.A.) and has been majority-owned by Italian diabetes-software provider Meteda since 2021. With a reported headcount of 1–10 employees and no disclosed venture funding, Retmarker operates as a small, specialized clinical-AI vendor whose commercial scale is closely tied to Meteda's EMEA distribution reach.

Name

Retmarker

Legal name

Retmarker, SA

Website

https://www.retmarker.com/

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Retmarker S.A. is a Coimbra, Portugal-based medical-device software company that applies AI-driven computer vision to retinal fundus images for diabetic retinopathy screening, DR complication risk prediction (via microaneurysm turnover), and AMD lesion annotation, serving screening providers, clinical-trial sponsors, and researchers across EMEA.

Ownership category

akta.pro rank

Product category

Ophthalmic Diagnostic Software

NAICS

Research and Development in the Physical, Engineering, and Life Sciences (54171), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Vision & Ophthalmic Diagnostic Centers (Optometry/OCT/Retinal Imaging) (HLAFAKAI)

akta.pro secondary industries

Ocular Imaging & Diagnostic Testing Centers (HLAKAKAN), Real-World Data (RWD) / Real-World Evidence (RWE) & Observational Research Platforms (HLACAOAM)

Keywords

• Diabetic retinopathy screening
• Retinal image analysis
• AI medical devices
• Ophthalmic diagnostics
• Fundus photography AI

Headquarters

HQ city

Coimbra

HQ country

Portugal

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Medical Device Software Licenses: Sale/licensing of Class IIa certified medical device software for Diabetic Retinopathy screening, biomarker analysis, and AMD research. Products include DR Screening, DR Biomarker, and AMD Research modules.
2. Professional Services: Professional services in implementation of efficient and effective population-based screening services for DR providers.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Retmarker develops AI-powered medical device software that analyzes retinal fundus photographs to automate diabetic retinopathy (DR) screening and AMD research workflows. Its three commercial offerings — DR Screening (population-based screening), DR Biomarker (longitudinal microaneurysm turnover analytics for predicting sight-threatening complications), and AMD Research (sem-automated lesion annotation) — are sold or licensed to DR screening providers, clinical-trial sponsors, and academic researchers. Technology is certified as a Class IIa medical device in Europe and approved in Australia.

Product overview

Retmarker provides a suite of automated AI-powered medical devices for retinal disease analysis and vision loss prevention. The product portfolio consists of three integrated tools: Retmarker DR Screening (for population-based diabetic retinopathy screening using fundus photography), Retmarker DR Biomarker (for predicting DR complications through microaneurysm turnover analysis in clinical trials), and Retmarker AMD Research (for semiautomated grading and annotation of AMD lesions in epidemiological studies). All products leverage proprietary computer vision algorithms to analyze retinal images, with DR Screening and DR Biomarker certified as class IIa medical devices in Europe. The technology originated from Critical Software and is now part of METEDA (Italian diabetes software provider).

Differentiator

Problem solved

Functional benefit

Brands

• Retmarker Screening: Highly reliable and affordable Diabetic Retinopathy Screening technology, certified as class IIa medical device in Europe and approved in Australia.
• Retmarker DR Biomarker
• RetmarkerAMD Research

Products and services

• Retmarker DR Screening Automated AI-powered diabetic retinopathy screening technology that analyzes retinal fundus images to identify patients requiring referral to a specialist. Certified as Class IIa medical device in Europe and approved in Australia. Aimed at DR screening providers running population-based screening programs.
• Retmarker DR Biomarker Predicts diabetic retinopathy sight-threatening complications by analyzing multiple retinal images taken over time and computing microaneurysm formation and disappearance rates. Used in clinical trials and research for risk stratification and patient enrollment. Validated as a Class IIa medical device in Europe.
• Retmarker AMD Research Semiautomatic grading software for Age-Related Macular Degeneration that provides simplified analysis and annotation of AMD lesions in retinal images, including Drusen (with confluence), Hypopigmentation, Hyperpigmentation, Geographic Atrophy and Exudative Lesions, plus multimodal comparison of annotations. Validated and published in Nature: Eye (2019). Intended for AMD epidemiological and clinical studies.

Quantifiable outcome

• Less than 10% of diabetics need referral - AI helps identify them efficiently

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• METEDAcoreChannel Partner/ Reseller/ Distributor · 1 January 2021During 2021, METEDA s.r.l. bought a majority stake in Retmarker company. METEDA is an Italian provider of innovative and technologically advanced software and hardware solutions for diabetes and nutrition, operating throughout the EMEA Region and serving more than 90% of diabetes centers in Italy.
• AIBILIcoreStrategic or Co-development PartnerStrategic partnership with Portuguese research institute AIBILI (European Vision Institute Clinical Research Network coordinating centre). Founded and led by Professor José Cunha-Vaz, a distinguished doctor scientist specializing in retina and diabetic retinopathy research. Through the partnership, Retmarker gained access to a license of a proprietary and patented co-registration algorithm.
• Critical Software / Critical GroupminorStrategic or Co-development PartnerRetmarker was founded as a spin-out from Critical Software (now Critical Group) in December 2008, originally called Critical Health S.A.
• Moorfields Eye HospitalminorStrategic or Co-development PartnerIndependent study led by A. Tufail from Moorfields Eye Hospital evaluated Retmarker technology in real life conditions, finding best specificity among evaluated technologies.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Heidelberg Engineering: Heidelberg Engineering produces advanced diagnostic imaging devices for ophthalmology (e.g., Spectralis OCT). Its retinal imaging solutions are used in the same DR screening clinical workflows where Retmarker's AI is applied.
• Optos: Optos (a Nikon company) produces ultra-widefield retinal imaging devices used in DR screening and ophthalmology. While not an AI software competitor, it operates broadly in the retinal imaging ecosystem where Retmarker is deployed.
• Topcon Healthcare: Topcon Healthcare provides ophthalmic imaging and screening solutions including fundus cameras and AI-enabled screening workflows. Its screening ecosystem overlaps with Retmarker's positioning in primary-care DR screening.
• Carl Zeiss Meditec: Carl Zeiss Meditec is a major ophthalmic medical device incumbent with products spanning imaging, diagnostics, and surgical systems. Its retinal imaging devices overlap with the workflow in which Retmarker AI software operates.

Emerging players

• Thirona: Thirona specializes in AI-based medical image analysis including retinal image analysis (RetCAD). It competes with Retmarker in AI retinal screening and diagnostic imaging, with overlap in European markets.
• Voxeleron: Voxeleron provides AI-based ophthalmic image analysis software focused on retinal imaging research workflows. It overlaps with Retmarker's AMD Research product line in serving research and clinical study use cases for retinal lesion analysis.

Direct peers

• Eyenuk: Eyenuk develops EyeArt, a widely deployed FDA-cleared AI system for autonomous diabetic retinopathy screening. It is the closest direct competitor to Retmarker's DR Screening product, serving similar screening programs with a similar computer-vision approach.
• Digital Diagnostics: Digital Diagnostics developed IDx-DR, the first FDA-cleared autonomous AI for diabetic retinopathy detection. It directly competes with Retmarker in AI-based DR screening for primary care and screening programs.
• AEYE Health: AEYE Health builds AI-based retinal diagnostics for DR screening with FDA clearance. It is a direct peer offering similar AI screening solutions for diabetic retinopathy, targeting similar point-of-care and screening workflows.
• Ikerian (RetinAI Medical): Ikerian (formerly RetinAI Medical) develops AI platforms for ophthalmic image analysis covering DR, AMD, and other retinal diseases, closely aligned with Retmarker's AMD Research and DR Screening products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/retmarker
• Facebookfacebook.com/retmarker
• LinkedInlinkedin.com/company/retmarker

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Retmarker