Myopia News Briefs

VTI Raises $22 Million to Focus on Markets with High Rates of Myopia

February 17, 2021

ATLANTA – Visioneering Technologies, Inc. (VTI) has received investment commitments of $22 million, according to a company announcement. Capital will be used to expand sales in existing global territories, for general working capital, and for clinical trials data that will support approval in China, additional market penetration, and strategic business development.

Founded in 2008, VTI designs, manufactures, sells, and distributes contact lenses. Its flagship product is the NaturalVue Multifocal contact lens, and the company has expanded its portfolio of technologies to address a range of eye care issues. Recently presented data show that in real-world practices, the NaturalVue Multifocal continues to be effective in reducing myopic progression, even through five years (59 months).

The company has grown operations across the United States, Australia, and Europe and is expanding into Asia with a focus on markets with high rates of myopia.

The announcement added that VTI has started fiscal year 2021 strongly, with $847,000 of shipments to U.S. eye care professionals and approximately $800,000 net revenue at the midpoint of the first quarter of 2021. The company is now forecasting $7 million of net revenue for fiscal year 2021, approximately 40 percent growth on fiscal year 2020.

To Top
  
Subscribe Today Free...
And join more than 25,000 optometric colleagues who have made Review of Optometric Business their daily business advisor.
YOUR EMAIL
FIRST NAME
LAST NAME
  
Subscribe Today Free...
And join more than 25,000 optometric colleagues who have made Review of Optometric Business their daily business advisor.
YOUR EMAIL
FIRST NAME
LAST NAME
Subscribe Today for Free...
Join more than 56,000 of your American & international MD & OD colleagues who have made Review of Myopia Management a key educational resource in the global fight to manage the growing prevalence of myopia.

Subscribe Today for Free...
Join more than 56,000 of your American & international MD & OD colleagues who have made Review of Myopia Management a key educational resource in the global fight to manage the growing prevalence of myopia.