Sightpath Medical announced it has officially acquired PennVista, a major laser-assisted in situ keratomileusis (LASIK) across several states.
Let’s start with Sightpath Medical.
Headquartered in Bloomington, Minnesota, Sightpath Medical is a medical equipment supplier of advanced ophthalmic surgery equipment and services for:
How is the company unique in its services?
First: The company was the first to mobilize phacoemulsification machines such as the Centurion Vision System, as well as:
- Excimer lasers
- IntraLase Femtosecond Laser
- LenSx Femtosecond Laser (Alcon, Inc)
- Company is also reported to be the only manufacturer-approved provider
Plus: Sightpath Medical’s patented travel system is designed to protect its equipment during the journey to practices via its trucks’ use of an “air suspension mechanism that suspends the laser, cushions the drive train, and maintains optimum balance and maximum damping during transit.”
And PennVista?
Founded in 2009 and based in Bridgeville, Pennsylvania, PennVista operates as an all-in-one provider of refractive ophthalmologic solutions and cataract surgery for the following states:
- Indiana
- Michigan
- Ohio
- Michigan
- West Virginia
Gotcha. So why acquire this provider?
Per Sightpath Medical, this purchase stands to advance the company’s geographic footprint in key markets as well as further its ongoing efforts to support ophthalmic practices across the country.
“This transaction, coupled with our recent LASIK Doctor Network Project, underscores our commitment to helping comprehensive ophthalmology practices successfully offer LASIK to their patients,” stated the company’s President and CEO Joel Gaslin.
Explain this LASIK Doctor Network Project.
Launched earlier this year, this project’s goal involves connecting ophthalmology practices with potential LASIK patients by providing the following resources:
- Digital marketing presence
- Consistent content creation
- Experience support team (to assist with promising patient candidate leads)
How PennVista will play into this: SightPath Medical will now be able to offer an extensive range of services and resources to more practices in the U.S.
Nice! And this isn’t Sightpath’s first acquisition, is it?
Indeed it’s not. Back in November 2022, the company acquired Accusite Surgical, a mobile cataract surgical company.
What Accusite does: Outsources inventory supplies, equipment, certified medical professionals (RNs and CSTs), maintenance and repairs, and patient education resources to ambulatory surgical centers, surgeons, and hospitals.
The benefit for Sightpath: A larger footprint in the ophthalmic surgery space (which is now even larger, thanks to PennVista.
That’s what I thought … anyway, when is this deal effective?
It already is! The acquisition cleared on May 30, 2024.