Alcon to Acquire Israel-Based Belkin Vision, Maker of Eagle SLT Laser
Alcon has bolstered its glaucoma surgical portfolio after announcing plans to acquire Belkin Vision in deal potentially worth more than $300 million. The deal, which was first reported by Israel-based business news provider, Globes, has been confirmed by Eyewire+.
According to the Globes report[1], in a notification to the Tel Aviv Stock Exchange (TASE), BioLight Industries, a partial owner of Belkin, received an immediate payment of NIS 9 million ($2.4 million) and additional milestone payments of up to $10.5 million for its 4% stake in the company. This makes the deal worth up to $325 million with milestone payments, according to the report.
In a statement to Eyewire+, Alcon confirmed it entered into an agreement to acquire Belkin, but did not provide financial terms of the deal. Alcon said it will provide more details of the deal when it closes, which is expected in the beginning of the third quarter 2024.
In December, Belkin received FDA 510(k) clearance for the Eagle device, a Q-switched, 532 nm-wavelength, frequency-doubled Nd:YAG laser intended for use in performing selective laser trabeculoplasty (SLT). Belkin describes the Eagle as the first and only contactless laser for glaucoma, providing an automated and noninvasive solution for patients and healthcare professionals.
In a statement to Eyewire, Daria Lemann Blumenthal, CEO and Co-Founder of Belkin Vision said, “Belkin Vision was founded on the premise of enhancing access to care. Created and nurtured by our talented team, the Eagle device, the world's first non-contact, automated direct-SLT system, brings a step-change to first-line glaucoma care. This agreement brings us closer to realizing our vision enabling a rapid expansion to reach more doctors and patients globally.”
Reference
1. Weinreb G. Alcon to buy Israeli glaucoma treatment co Belkin Vision. Globes. https://en.globes.co.il/en/article-alcon-to-buy-israeli-glaucoma-treatment-co-belkin-vision-1001478000. May 5, 2024.