Of your five senses, eye sight ranks up there as most important, and essential. Unfortunately, for some of us, we don’t have the best vision. In fact, some of us deal with what’s known as Aniseikonia, or as noted by Clinical and Experimental Optometry “is a difference in the perceived size or shape of images between eyes, and can arise from a variety of physiological, neurological, retinal, and optical causes.” In fact, as many as “20-30% of the general spectacle wearing population may have a measurable amount of aniseikonia,” as noted by the Columbia University Department of Ophthalmology, which added, “Symptoms can include headaches, double vision, disorientation or dizziness, tearing, eye pain or fatigue, sensitivity to light, visual acuity issues and trouble reading, as well as nausea.” While Aniseikonia can be a real headache, companies are racing to help, including Leveljump Healthcare Corp. (TSXV:JUMP)(OTC:JMPHF), National Vision Holdings Inc. (NASDAQ:EYE), EssilorLuxottica SA (OTC:ESLOY), Alcon Inc. (NYSE:ALC), and Sight Sciences Inc. (NASDAQ:SGHT).
Look at Leveljump Healthcare Corp. (TSXV:JUMP)(OTC:JMPHF), for example
Leveljump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF), a Canadian leader in B2B telehealth solutions, is pleased to announce that it has acquired 23.8% of the issued and outstanding shares of each of Shaw Vision Inc. and Shaw Lens Inc. from a minority shareholder.
The aggregate purchase price of the Shaw Acquisition is $129,500 and will be paid through issuance of 350,000 common shares of the Company at a deemed issuance price of $0.28 per JUMP Share and 350,000 non-transferable common share purchase warrants of the Company.
Each JUMP Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.30 per share prior to December 31, 2023. The Shaw Acquisition is an arm’s length transaction. There are no finder’s fees payable. The Shaw Acquisition has been approved by the boards of Shaw Vision and Shaw Lens. Closing of the Shaw Acquisition is subject to the final consent of the TSX Venture Exchange.
All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws. Both Shaw Vision Inc. and Shaw Lens Inc. are Toronto-based privately owned federal corporations.
About Shaw Lens and Shaw Vision
Shaw Lens holds a U.S. patent protected lens technology that can solve a condition for people who wear glasses, known as aniseikonia. It is a condition that causes each eye to perceive the size of objects differently. Issues related can include headaches, double vision, disorientation or dizziness, tearing, eye pain or fatigue, sensitivity to light, visual acuity issues and trouble reading, as well as nausea.
According to the Columbia University Department of Ophthalmology,“20-30% of the general spectacle wearing population may have a measurable amount of aniseikonia.” This makes the market size for corrective lenses for Aniseikonia over 400 million people that may be currently living with some degree of aniseikonia and its relative effects.
More information about Shaw can be found at www.shawlens.com
Quotes from JUMP CEO and Shaw CEO
“The Shaw Lens has proven to be effective with positive feedback from both doctors and patients” said Mitch Geisler, CEO. “We believe the keys to success are to work with the Shaw Lens management team, in order to expand the company and improve its operating systems. We would like to increase sales and marketing efforts to ensure that all optometrists are aware of the product and begin offering the lens to patients, and to back that up with a stable production effort and supply.”
Other related developments from around the markets include:
National Vision Holdings Inc. reported its financial results for the second quarter ended July 3, 2021. Net revenue increased 28.0% to $549.5 million. Comparable store sales growth of 22.5%; Adjusted Comparable Store Sales Growth of 23.5%. Net income increased 267% to $37.6 million; Diluted EPS increased 230% to $0.42. Adjusted Operating Income increased 125% to $65.6 million. Adjusted Diluted EPS increased 163% to $0.48.
EssilorLuxottica SA recently reported second quarter and first half 2021 results. “We delivered another strong set of results in the first half, despite the ongoing challenges of the pandemic. Our continued focus on premium products and brands, a powerful supply chain and a global community of talented and engaged employees helped us get there. In the second quarter, we wrote some important pages in EssilorLuxottica’s history by clarifying our governance and building one unified company, while continuing to expand our retail footprint in Europe by completing the acquisition of GrandVision. Looking to the future, we’re proud to share our new company-wide Sustainability approach, “Eyes on the Planet”, built around key pillars including carbon, circularity, world sight, inclusion and ethics. As a sign of our long-term commitment in this area, today we announce our target to achieve carbon neutrality across our direct operations by 2025, starting in Europe by 2023”, said Francesco Milleri, CEO of EssilorLuxottica and Paul du Saillant, Deputy CEO of EssilorLuxottica.
Alcon Inc., the global leader in eye care, reported its financial results for the three and six months ended June 30, 2021. For the second quarter of 2021, worldwide sales were $2.1 billion, an increase of 75% on a reported basis and 69% on a constant currency basis(2), as compared to the same quarter of the previous year. Second quarter 2021 diluted earnings per share were $0.31 and core diluted earnings per share were $0.56.
Sight Sciences Inc., an eyecare technology company focused on creating innovative solutions intended to transform standards of care and improve patients’ lives, reported financial results for the quarter ended June 30, 2021. Generated second quarter 2021 total revenue of $12.5 million, an increase of 258% compared to the prior year period, including Surgical Glaucoma sales of $12.0 million, an increase of 263% compared to the prior year period; Dry Eye sales of $0.5 million, an increase of 169% compared to the prior year period; Expanded gross margin to 82% in the second quarter 2021 versus 40% in the prior year period; Completed an initial public offering in July raising approximately $253 million of net proceeds after deducting underwriting discounts and commissions and estimated offering expenses.
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