First Eye Care-Focused SPAC, LifeLong Vision, Launched
A new multi-billion dollar initiative that aims to provide daily access to eye care through any mobile device officially launched on Wednesday.
LifeLong Vision, which is backed by investment banking platform MedHealth Capital, is set to emerge via a Special Purpose Acquisition Company (SPAC) with a targeted launch valuation of $1 billion to $1.5 billion. The deal represents the first eye care-focused SPAC to hit Wall Street, and will be led by Ranya Habash, MD, who will serve as CEO.
The LifeLong Vision SPAC will aim to deliver patient value by acquiring and integrating technologies from leading eye care and technology companies under a single, intelligent platform. By combining technologies, including digital health tools, diagnostics, and artificial intelligence, LifeLong Vision will be launched as a VaaS (Vision-as-a-Service) digital health platform. LifeLong Vision is partnering with strategic players in both the vision and technology industries.
“We are identifying, acquiring, and integrating cutting-edge technologies to create a digital platform for access to patients, clinicians, big tech, industry, and insurers,” said Dr. Habash, CEO of LifeLong Vision and distinguished surgeon, assistant professor of ophthalmology, and medical director of technology innovation at the Bascom Palmer Eye Institute.
“Eye care needs are growing faster than they can be addressed—especially in developing economies—and visual impairment is the costliest health burden in the US and world economies, increasing as the population increases,” Dr. Habash said. “LifeLong Vision will provide the best digital health in-home solutions and direct-to-patient platforms through a digital fabric connecting the whole eye care community. Our goal is to offer greater access to care, earlier in the patient journey, because we know that earlier diagnosis and treatment will lead to better quality of life outcomes.”
For more information on LifeLong Vision and its mission, visit https://www.lifelongvisioncare.com/