Topcon enters Therapeutic Laser Market, Acquires Retina and Glaucoma Business of OptiMedica
Tokyo – Aug. 11,2010 – Topcon Corporation (Tokyo:7732)(ISIN:JP3630400004) announces that it has signed a definitive agreement to purchase the glaucoma- and retina-related assets of OptiMedica Corporation (Santa Clara, CA, USA).
The acquired assets will be managed by the newly established Topcon Medical Laser Systems, Inc. (TMLS), a wholly-owned subsidiary of Topcon America Corporation. Through the agreement, TMLS will have ownership of all related intellectual property, manufacturing rights and facilities, as well as sales and distribution rights worldwide. TMLS will also assume responsibility to provide service and support to the existing installed base of PASCAL, Slimline and Streamline laser systems.
OptiMedica’s proprietary PASCAL (PAttern SCAn Laser) photocoagulation system has achieved remarkable sales success due to its ability to deliver gentle laser photocoagulation with reduced heat diffusion to provide an enhanced therapeutic experience. The system provides dramatically shortened treatment durations through the use of proprietary multi-spot, simultaneous laser pulse technology. To date, more than 500 units have been sold worldwide, and over half a million patients have received treatment with the PASCAL system.
Through this acquisition, Topcon makes its debut in the therapeutic laser market. This move is in line with the company’s long-term vision of being a provider of complete solutions for examination, diagnosis and treatment of vision disorders.
“The acquisition of OptiMedica ‘s retina and glaucoma business marks a milestone in the history of Topcon. It is the largest acquisition in the medical division to date and underlines our objective to be a total-solutions provider to the eye care practitioner. Given the aging population and continued growth in diabetic and age-related eye disease, the therapeutic laser market continues to be a major opportunity in ophthalmology. OptiMedica’s innovative approach and outstanding customer support have made a difference in our industry and we look forward to continuing on this path,” says Hiroshi Fukuzawa, General Manager of Topcon Corporation’s Eye Care Business Unit.
“Topcon has been an outstanding distribution partner for PASCAL in several major markets, so we are confident that they are ideally suited to advancing PASCAL in the global marketplace,” said Mark J. Forchette, OptiMedica president and chief executive officer. “With our retina and glaucoma portfolio in the very capable hands of Topcon, OptiMedica will move forward with a clear focus on delivering the significant innovations that we have developed in femtosecond laser cataract technology.”
GCA Savvian Advisors, LLC acted as exclusive financial advisor and Morrison & Foerster LLP acted as legal counsel to Topcon Corporation.
About Topcon Corporation
Established in 1932 and headquartered in Itabashi, Tokyo, Topcon Corporation is one of the world’s leading manufacturers of ophthalmic, optometric, GPS, Positioning control products and Semiconductor Equipment. Topcon America Corporation, based in Oakland, NJ, is the wholly-owned American subsidiary of Topcon Corporation, which oversees the general management of Topcon Medical Systems, Inc, a leader and technical innovator in the field of ophthalmic equipment in the US marketplace.
About OptiMedica Corporation
OptiMedica Corp. is a Silicon Valley-based global ophthalmic device company dedicated to developing performance-driven technologies that improve patient outcomes. Exclusively focused in the cataract therapeutic area, the company previously developed and commercialized the PASCAL (PAttern SCAn Laser) Method of retinal photocagulation (sold to Topcon Corp. in August 2010). Founded in 2004, OptiMedica is headquartered in Santa Clara, Calif., with international offices in Singapore. The company is funded by Kleiner Perkins Caufield & Byers, Alloy Ventures, DAG Ventures, BlackRock Private Equity Partners and Bio*One Capital. For more information, please visit www.optimedica.com.