IOPtima Acquired by Chinese Pharmaceutical Group Chengdu Kanghong
IOPtima, the maker of the IOPtiMate system for the surgical treatment of glaucoma, was sold to Chinese pharmaceutical company Chengdu Kanghong Pharmaceutical Group. The transaction will be executed in four stages, the first starting with a $7 million investment in IOPtima. In the next stages, Chengdu Kanghong will acquire all shares of IOPtima gradually until 2021. At the same time Chengdu Kanghong will be IOPtima's distributor in China.
Chengdu Kanghong’s main ophthalmic product is Conbercept, a treatment for wet age-related macular degeneration (AMD). The company plans to use IOPtima as its platform for growing a range of products and activities within ophthalmic surgical devices. The IOPtiMate system is sold in many countries including China. IOPtima is currently developing additional laser products and accessories for glaucoma and other ophthalmic diseases that aim to provide ophthalmic surgeons simple yet more accurate and effective surgical tools.
"This is an important step for IOPtima that will enable us to grow our brand of products and international activity, further penetrate the market in China, and promote our unique solutions to patients who suffer from glaucoma," Ronen Castro, Chief Executive Officer, IOPtima, said in a company news release.
“This day is meaningful for us and a first step in our plans to become an international player within the ophthalmic world. The acquisition of IOPtima by Kanghong will make us stronger in China and will help IOPtima execute their plans to bring more products to market,” Ke Zunhong, Chairman of the Board of Chengdu Kanghong Pharmaceutical Group, said in the news release.
The signature ceremony took place on November 20, 2017 in Chengdu with the respected presence of the Israeli Consul to China, Mr. Amir Lati.
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