AcuFocus said yesterday it inked a deal with SightLife Surgical to divest itself of its AcuFocus Kamra corneal inlay designed for surgically treating presbyopia for an undisclosed amount.
Irvine, Calif.-based AcuFocus said the Kamra inlay was the first such inlay to receive FDA approval designed for the surgical correction of presbyopia.
“We believe this acquisition represents a true win-win for patients, surgeons and our respective stakeholders. SightLife Surgical gains a market-leading technology along with a tenured team with the know-how to continue to grow the market. For AcuFocus, this acquisition allows us to focus our full energy and efforts on bringing our groundbreaking IC-8 small aperture IOL to the U.S. market,” AcuFocus prez & COO Al Waterhouse said in prepared remarks.
The Kamra Inlay is a thin, opaque mini-ring that uses pinhole optics to allow for an extended depth of focus for presbyopia patients, AcuFocus said.
“The Kamra inlay is a minimally invasive solution for a greatly underserved and growing segment of the population. I have been involved with AcuFocus and the Kamra inlay since its inception and have personally witnessed the evolution of the technology and procedure. Developing a new segment is not easy and takes time. I’m excited about the progress achieved today and the strong corneal focus of the SightLife Surgical team moving forward. I believe the Kamra inlay will have a bright future and will be an increasingly utilized solution for presbyopia correction,” AcuFocus and SightLife board member Dr. Richard Lindstrom of Minnesota Eye Consultants said in a press release.
As part of the deal, a team from AcuFocus will join SightLife surgical, with Partick Jacques taking on the role of refractive cornea VP. AcuFocus’ medical affairs & biz strategy VP Yari Mitchell will also support the transition as a strategic advisor, the company said.
“At SightLife Surgical, we pride ourselves on being cornea experts and innovators. As part of our mission to eliminate corneal blindness by 2040, we have been actively searching for safe, effective and reliable corneal surgical technologies to enhance and expand our portfolio of products and services for surgeons. As we’ve monitored the progress made in the corneal inlay market, we have been impressed with the AcuFocus team and their Kamra inlay technology. We look forward to adding this proven technology to SightLife Surgical and carrying forward the development of this segment,” SightLife Surgical prez & CEO Monty Montoya said in a prepared statement.
The deal is expected to close at the end of the first quarter of 2018, with full service and support transition following after.
