Visioneering Technologies (ASX: VTI)

Visioneering Technologies (ASX: VTI) Develops and sells contact lenses that help treat eye conditions

2008

FOUNDED

MICRO

SIZE

HEALTH EQUIPMENT + SERVICES

Industry

Product / Service

  • Visioneering Technologies is primarily involved in designing, selling and distributing NaturalVue Multifocal contact lenses

  • NaturalVue MF contact lenses are a daily disposable soft multifocal contact lense that is used in treating adults with Presbyopia and children with Myopia

  • Presbyopia is an age-related condition, usually beginning in a patient's 40s, that relates to a loss of ability to see things that are near

  • Myopia is also known as shortsightedness, difficulty seeing objects in the distance. The degree of Myopia a child develops correlates to increased risks of other eye conditions later in life

  • Visioneering believes that NaturalVue MF contact lenses offer superior outcomes to patients than other Multifocal contact lenses, as well as being easier to fit by eye care professionals

  • Visioneering also has a range of products which treats Astigmatism, an irregularly shaped cornea that results in blurry vision. These additional products are still in development

  • To protect their Intellectual Property, Visioneering holds 9 issued patents worldwide, with another 10 pending

  • Visioneering outsources manufacturing of its products to Pegavision, a Taiwan based contact lens manufacturer

History

  • Visioneering’s history can be traced back to the early 2000s when Dr. Richard A. Griffin, an optometrist and engineer, began research that led to the creation of Visioneering Technologies

  • In 2008, the company incorporated in Delaware and in 2012, Visioneering started working with Pegavision

  • Between 2013 and 2015, Visioneering conducted multiple US clinical trials and received clearance by the FDA to market NaturalVue MF contact lenses

  • Visioneering listed on the ASX in March 2017

Customers

  • Visioneering’s customers are initially eye care professionals, who then recommend or prescribe Visioneering’s products to their patients

Operations

  • The company is headquartered in Alpharetta, Georgia, is incorporated in Delaware and is registered in Australia as a foreign company

  • The company’s operations are in the United States

Redefine vision through advanced engineering and a relentless drive to achieve better solutions through the fusion of Science, Art and Technology

Profitability Table

Year Revenue (US$'000) % change EBIT (US$'000) % change
CY 2014 0.0 - -1,685 L
CY 2015 53.0 - -2,441 L
CY 2016 216 308 -3,665 L

Fun Facts

  • Dr Stephen Snowdy’s (CEO) will receive an initial base salary of US$360,000 per year after listing, with an annual discretionary cash bonus of up to 50% of his salary

Competitors

  • Visioneering’s competitors include eyeglasses, medications, surgery and other contact lens manufacturers

  • In terms of other contact lens manufacturers, Visioneering’s competitors include:

Sources & More Info

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