Oct 19 2009
ALPHARETTA, Georgia—QSpex Technologies, Inc. has announced receipt of a Series B $12 million investment provided through Essex Woodlands Health Ventures, one of the world’s largest and most established healthcare venture capital firms. The funds will be used to further the development and commercialization of an innovative technology platform that produces the highest quality, custom premium spectacle lenses in a single patient visit to their vision
“We are extremely excited about the opportunity presented by our partnership with Essex Woodlands Health Ventures. They are truly the VCs with the White Hats,” said QSpex Technologies Chief Executive Officer, Stephen M. Martin. “This accelerates our ability to bring QSpex Technologies and our pipeline of premium spectacle lenses to our vision care customers. Our vision is to give eye care professionals the ability to achieve a higher level of patient satisfaction than
current technology and spectacle lens products allow. Our passion for innovating and transforming the spectacle lens market carries forward from the work we did in the contact lens market of the eighties and nineties.”
Martin P. Sutter, Managing Director of Essex Woodlands Health Ventures stated, “QSpex has made a quantum leap forward insofar as the technology to manufacture premium quality spectacle prescription lenses. Their founders and senior management team are outstanding, and they have extensive experience in this field. Essex Woodlands Health Ventures is delighted to become a significant shareholder in this exciting new Company.” As part of the agreement, Mr. Sutter has
accepted a position on the QSpex Technologies Board of Directors. “It has been quite some time since production of spectacle lenses has significantly changed; we hope to put a spark to this long overdue transformation,” said Mr. Martin.
1525 Bluegrass Lakes Parkway, Alpharetta , Georgia 30004 Phone 770-751-7716 Fax 770-751-7724
About QSpex Technologies, Inc —
Founded in 2007, QSpex Technologies is currently developing premium, custom spectacle lenses of unrivaled quality. The company’s mission is to provide vision care providers with the unique capability to increase patient satisfaction with both the quality of the lens delivered and the time to finished product. The company’s proprietary technology has beencreated by Dr. Kai Su, Founder and Chief Scientific Officer, the innovator of multiple groundbreaking products in vision correction, including Softcolors® Contact Lenses and Opticlean® Contact Lens
Cleaning Products. CEO Steve Martin is also an industry innovator; he founded Ciba Vision in 1980 and Ciba Vision Ophthalmics in 1990.
About Essex Woodlands Health Ventures —
With $2.5 billion under management, Essex Woodlands is one of the largest and oldest venture capital firms pursuing investments in pharmaceuticals, biotechnology, medical devices, health care services, and health information
technology. Since its founding in 1985, Essex Woodlands has maintained its singular commitment to the healthcare industry and has been involved in the founding, investing, and/or management of over 100 healthcare companies ranging across all sectors, stages and geography. The team is comprised of 25 senior investment professionals with offices in Palo Alto, Houston, New York and London.
For more information please see www.ewhv.com
Stephen M. Martin, Chief Executive Officer