Clerio Vision, Inc., a developer of laser-based vision correction solutions, announced today that it has acquired Hydrogel Vision Corporation (HVC). The transaction brings together HVC’s long-standing expertise in the manufacturing and distribution of high-performance contact lenses with Clerio’s innovative product pipeline.
HVC, founded in 2002, is best known for its Extreme H2O product line and its multiple differentiated offerings that personalize the contact lens wearing experience. For instance, HVC offers lenses in multiple diameters, with smaller lenses to more comfortably fit those with smaller corneas or narrower eyelids, and larger lenses for those with larger corneas or for improved sports performance.
HVC contacts are also made from a proprietary ultra-hydrating material that retains up to 99% of its moisture, which can help to minimize the dryness and itchiness that is often experienced by contact lens wearers late in the day, and may be especially helpful to those who work a lot with screens or live in dryer climates. HVC also distributes the only disposable opaque color contacts for those with astigmatism.
Clerio was founded in 2014 to commercialize breakthrough femtosecond laser research at the University of Rochester. The company’s technology enables the laser writing of unique patterns into contact lenses that optimize visual acuity, including superior correction at both far and near distances for those with presbyopia. Clerio’s multifocal contact lens product is currently in clinical development and is expected to be on the market in the next 18 months.
“As Clerio began preparations for its first contact lens offering, we quickly identified HVC as a best-in-class manufacturing partner,” said Alex Zapesochny, Co-CEO of Clerio Vision. “We are thrilled to have now fully joined forces with HVC and to further build on its history of offering innovative products of the highest quality.”
HVC products are sold in 25 countries, either under the Extreme H2O brand or under one of several private label arrangements. All HVC employees will be retained and its manufacturing and fulfillment activities will continue to be carried out in its locations in Sarasota, Florida.
Financial details of the transaction were not disclosed.
About Clerio Vision, Inc.
Clerio Vision is developing a revolutionary product platform for the global ophthalmic market, based on technology licensed from the University of Rochester. The company’s contact lens and refractive surgery products are currently in clinical development. The company has raised approximately $30 million in financing from Safar Partners, Stonehenge Growth Equity, Armory Square Ventures, prominent angel investors and the National Science Foundation. The team is composed of serial entrepreneurs with multiple exits as well as ophthalmic industry veterans who pioneered a number of new ophthalmic technology categories.