Oxford Finance announced today that it closed a $60 million senior secured term loan with intraocular lens maker RxSight.
Aliso Viejo, Calif.-based RxSight develops what it touts as the world’s first and only FDA-approved adjustable intraocular lens that is customized after cataract surgery.
RxSight’s lens is designed to deliver superior visual outcomes with its post-cataract surgery customization capabilities offering the ability to meet the patient’s personal desires and lifestyle requirements. Approximately 100 U.S. surgeons are using RxSight’s lens in their cataract patients, according to a news release.
“We are delighted to have partnered with Oxford Finance for additional funding to fuel continued commercial expansion and technology innovations for the premium cataract surgery market,” RxSight CFO Shelley Thunen said in the release.
According to the news release, RxSight plans to use the funds generated from the $60 million term loan for general working capital, including sales and marketing along with research and development.
“RxSight’s proprietary Light Adjustable Lens offers an invaluable advancement in the cataract surgery market,” said Oxford Finance senior managing director Christopher Herr said. “Oxford is happy to provide capital to support the Company’s innovative approach that enables optimization of vision-specific to a patient’s needs.”