New dry eye platform created
Accelmed Partners II (AP-II) recently acquired TearLab Corporation, which develops ocular surface diagnostics. Accelmed and TearLab combine skills and expertise across the dry eye disease (DED) market, allowing the newly formed company to pursue development and acquisition opportunities.
"We are very excited to close this transaction with TearLab. Over the past years we spent many days listening to ophthalmologists and optometrists and learning their needs. We are investing in an exceptional team that is primed to execute directly against some of the most important and frequently mentioned unmet needs," said Lior Shav, Accelmed Partners' general partner, in a statement.
Due to the TearLab’s years of experience and research in DED, the company is positioned to provide the eyecare community with meaningful advances in an under-resourced and under-served market.
"The past few months have been extremely difficult for many practices as they recover from the impact of COVID-19. We aim to provide more opportunities for eye care practices to grow their services while enhancing care to patients,” said Seph Jensen, chief executive officer, TearLab.