OCuSOFT, an R&D focused eye and skin care products manufacturer, along with its joint venture partner Essentia Pharma, has acquired the intellectual property portfolio of Digital Heat Corporation, a science and technology-based company located in Phoenix, Arizona.
As part of the deal, the eye warming device acquired from the Digital Heat’s portfolio will be marketed as the OCuSOFT Thermal 1-Touch. The transaction price was not disclosed by the companies.
Digital Heat founder and inventor John Devine said: “After creating the device, I aspired to partner with an elite company. Now the ability to join OCuSOFT is a dream come true.”
The company said that the Thermal 1-Touch features preset modes and temperature settings that enable treatment of four eyelids simultaneously, providing improved patient convenience for in-office procedures.
In addition, the device significantly eliminates disposables cost and leverages the Digi Lens technology making Thermal 1-Touch cost-effective for physicians.
OCuSOFT chief business officer and Essentia companies chairman Stacy Foster said: “OCuSOFT and Essentia work together in product development funding as well as regional marketing. Together, we have been looking at various devices which could offer our doctors a full range of Dry Eye therapies.
“The problem with most of the devices we looked at was cost. Most were just too expensive. Digital Heat fixed that with a convenient, easy-to-use treatment modality priced so that every office can afford it.”
The company said that its Thermal 1-Touch is expected to compete with Alcon’s iLux and Sight Sciences’ TearCare devices whose base prices are considerably much higher than Thermal 1-Touch.
OCuSOFT co-founders Cynthia Barratt and Nat Adkins said: “We are especially pleased that John Devine, the brains behind Digital Heat is staying on as OCuSOFT’s Vice President for Medical Devices. John has other ideas which he is excited to see developed and we look forward to working with him on future projects. As a result, our pipeline portfolio is exciting. It is a great time to be part of the OCuSOFT family.”
Essentia Pharma, a marketing and investment subsidiary of OCuSOFT, comprises a series of regional companies dedicated to R&D product development funding.