AcuFocus, a privately held ophthalmic medical device company, announced today a private investment of approximately $66 million in a financing round led by KKR, a leading global investment firm.
AcuFocus develops and markets breakthrough small aperture technologies for the improvement of near vision.
The investment follows several key milestones for AcuFocus, including the successful controlled commercial launch of its first-of-its-kind flagship product, the KAMRA® corneal inlay, in the U.S. and CE Mark approval for its second product, the IC-8™ intraocular lens.
Both technologies utilize the small aperture effect to treat presbyopia, the natural loss of near vision that eventually affects everyone over the age of 40, as well as cataracts, the clouding of the eye’s natural lens.
The financing round led by KKR will allow AcuFocus to accelerate its commercialization plans for the KAMRA inlay and IC-8 lens as well as further advances in research and development projects that continue to leverage its small aperture expertise.
“We are honored that KKR has chosen to make AcuFocus its first investment in the ophthalmic space,” said Bill Link, PhD, AcuFocus Chairman of the Board.
“Through this partnership, and the continued support of our current investors, we look forward to driving the company into a global market leadership position in presbyopia and cataract surgery.”
“This investment is a critical catalyst for the company,” said Al Waterhouse, AcuFocus President and Chief Operating Officer.
“KKR’s confidence in our technology, along with its track record in successfully scaling businesses, will allow us to execute aggressively on growth plans to bring our disruptive small aperture technologies to full commercialization.”
“AcuFocus is a unique ophthalmic device platform with a differentiated set of products, strong patient outcomes and an accomplished management team,” said Arjun Arora, Principal on KKR’s Americas Health Care investing team.
For KKR, the investment is part of the firm’s health care growth equity strategy, which is focused on high-growth companies for which KKR can be a unique partner in helping reach scale.