BVI Announces Investment & Collaboration with Beyeonics Vision

Rhea-AI Summary

BVI has announced a strategic investment in Beyeonics Vision, a subsidiary of Elbit Systems (NASDAQ: ESLT), to enhance surgical visualization technology. Beyeonics One, the first commercial ophthalmic digital imaging system, will replace traditional microscopes and offer real-time imaging support to surgeons. This partnership aims to streamline the U.S. commercialization of Beyeonics One while also looking to expand internationally. BVI believes this collaboration will significantly improve surgeon workflows and patient outcomes in eye surgery.

Positive

• Strategic investment in Beyeonics Vision enhances BVI's product offerings.
• Beyeonics One offers advanced digital imaging, improving surgical visualization.
• Collaboration aims for rapid U.S. commercialization and potential international expansion.

Negative

• None.

Supports surgeon-centered digital visualization, improved ergonomics and real-time guidance to surgical decision-making process

WALTHAM, Mass.--(BUSINESS WIRE)-- BVI, a purpose-built diversified global ophthalmic device company, today announced an investment in Beyeonics Vision, a medical technology subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) ("Elbit Systems"). Beyeonics Vision uses integrated augmented reality, tracking, and image processing/AI platforms to deliver improved visualization, optimized workflow, and real-time support to surgeon decision-making process in the operating room. The collaboration also promotes a streamlined process to commercialize Beyeonics™ One in the United States, with potential for rapid expansion in territories outside of the United States.

“BVI routinely assesses opportunities to partner with companies that have a commitment to innovation and share our entrepreneurial mindset. With Beyeonics One, BVI can expand our offering of unparalleled surgical experience during anterior and posterior segment procedures,” said Shervin Korangy, BVI’s President and Chief Executive Officer. “We know from experience that it takes shared priorities to deliver on our mission and are excited that Beyeonics Vision shares our passion for and commitment to refocusing the future of vision.”

Beyeonics Vision has been developing Beyeonics One, the first and only commercial ophthalmic digital imaging system to replace optical analog microscopes. Beyeonics One is an open and upgradable digital visualization platform, equipped with an ultra-high-resolution camera that processes and transfers digitally enhanced images to a high-resolution head-wearable display for a truly immersive and natural stereoscopic 3-D viewing experience. Beyeonics One provides surgeons with enhanced automation, programming autonomy and more freedom to set-up the operating room and adopt a more ergonomically efficient posture. Additionally, the system enables real-time decision-making process with customizable integration of accessible pre-/intra-operative data and seamless integration with other devices.

“We are excited to partner with BVI on the U.S. commercialization of Beyeonics One and the potential to collaborate on future innovations as well. Through this collaboration we aim to expand our collective capabilities to optimize all aspects of visualization for eye surgeons and offer a transformative experience to providers and patients,” shared Ron Schneider, CEO of Beyeonics Vision.

BVI first previewed their partnership with Beyeonics Vision at the American Society of Cataract and Refractive Surgery annual meeting in July 2021 and will continue this at ESCRS in Amsterdam in October, & AAO in New Orleans in November.

About BVI

BVI® is a global ophthalmic medical device manufacturer with a mission to deliver high quality solutions and innovation for advancing eye surgery and improving the vision of patients. With nine decades of developing leading products and solutions, BVI partners with ophthalmic surgeons to improve the vision of millions of patients across the globe. Our organization supports surgical teams, in more than 115 countries worldwide, either directly or through our network of trusted distributors. Our trusted brands include: Beaver® (Knives and Blades), Visitec® (Cannulas), Malosa® (Single-Use Instruments), Vitreq® (Vitreoretinal Surgical Products) and PhysIOL® (Premium IOLs).

About Beyeonics Vision

Beyeonics™ Vision, a subsidiary from Elbit Systems (NASDAQ:ESLT), is a medical technology company developing surgeon-centered visualization solutions. Beyeonics is aiming to consolidate & democratize surgery, deliver a transformative technology by using integrated augmented reality, tracking and image processing visualization platform to tell surgeons valuable information, to guide decisions and to perform automatic tasks.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005135/en/

BVI

Andrew Dawson

Corporate Communications

adawson@bvimedical.com

Investors

Gilmartin Group

Vivian Cervantes

IR@bvimedical.com

Source: BVI

FAQ

What is the recent investment by BVI related to Elbit Systems (ESLT)?

BVI has announced an investment in Beyeonics Vision, a subsidiary of Elbit Systems (ESLT), to enhance surgical visualization technology.

What is Beyeonics One and how does it relate to ESLT?

Beyeonics One is a digital imaging system developed by Beyeonics Vision, a subsidiary of Elbit Systems (ESLT), aimed at improving surgical procedures.

When will the Beyeonics One system be commercially available in the U.S.?

The collaboration between BVI and Beyeonics Vision seeks to streamline the commercialization of Beyeonics One in the U.S.

How does the investment in Beyeonics Vision benefit BVI?

The investment allows BVI to enhance its surgical offerings and improve workflows in eye surgeries.

What technologies does Beyeonics One incorporate?

Beyeonics One uses augmented reality, tracking, and AI to improve visualization and decision-making during surgeries.