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Alcon to acquire Belkin Vision in deal estimated at $335 million

News
Article

Alcon agreed to acquire Belkin Vision and the Belkin Vision Eagle and plans to provide additional details when the deal is closed.

(Image Credit: AdobeStock/nespix)

(Image Credit: AdobeStock/nespix)

Alcon is poised to acquire Israel-based Belkin Vision, producer of the Eagle laser for glaucoma.

An Alcon spokesperson confirmed the acquisition in an email to Ophthalmology Times.

“We are excited to share that on May 3, 2024, Alcon entered into an agreement with the intent to acquire Belkin Vision and the Belkin Vision Eagle,” the spokesperson said in the email. “We'll have more details to share upon deal close, which is expected around the beginning of Q3, subject to customary closing conditions.”

The price tag of the acquisition, estimated at up to $335 million, was detailed in a story last week by Globes, an Israeli business news website, which attributed the information to BioLight Industries, an ophthalmology investment firm.1,2

BioLight reported to the Tel Aviv Stock Exchange that it would receive an immediate payment of $2.4 million and additional milestone payments of up to $10.5 million for its 4 percent stake in Belkin.

According to the report, it was estimated that Alcon would pay $60 million in up front cash for Belkin. Along with milestone payments,the total value of the deal was set at $335 million.2

In an email, Belkin officials also confirmed the agreement with Alcon to acquire Belkin Vision and Eagle. They also stated they would provide additional details once the deal closes.

Daria Lemann Blumenthal, CEO and co-founder of Belkin Vision noted in a statement to Ophthalmology Times that the company 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,” Blumenthal said in the statement. “This agreement brings us closer to realizing our vision enabling a rapid expansion to reach more doctors and patients globally.’

In December, Belkin Vision announced it had received FDA clearance for its the Eagle device. It gained CE marking in May 2022.

According to a news release,3 a Q-switched, 532 nm-wavelength, the device is a frequency-doubled Nd:YAG laser intended for use in performing selective laser trabeculoplasty (SLT).

According to the company’s news release, the laser device offers several advantages over traditional treatment options; the laser energy is delivered in a non-contact procedure directly through the limbus to the trabecular meshwork without the need for the use of a gonioscopy lens.

Moreover, the device automatically defines the target locatio­n then applies the laser treatment sequence while the eye tracker compensates for any eye movement. By introducing Direct-SLT (DSLT), a streamlined, user-friendly technology, BELKIN Vision aims to expand access to early laser therapy for more patients by enabling a larger number of eye care professionals to perform the procedure.

According to the company, its goal is to expand access to early laser therapy for more glaucoma patients by enabling a larger number of eye care professionals to perform the procedure.1

References:
  1. Latest Industry News & Trends | Market Scope. Market-scope.com. Published 2024. Accessed May 13, 2024. https://www.market-scope.com/pages/news/acquisitions
  2. ‌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. Published May 5, 2024. Accessed May 13, 2024.
  3. ‌‌Vision, B. (2023) Belkin Vision announces FDA CLEARANCE FOR THE EAGLETM devicePR Newswire: press release distribution, targeting, monitoring and marketing. Published December 12, 2023. Accessed December 12, 2023. https://www.prnewswire.com/news-releases/belkin-vision-announces-fda-clearance-for-the-eagle-device-302012569.html.
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