Belkin Vision Acquired by Eyecare Leader Alcon Pharmaceuticals Ltd. for Nearly Half a Billion Dollars
Alcon to Add Belkin Vision’s FDA Approved Non-Contact Laster Treatment for Glaucoma to Its Ophthalmology Portfolio
Company Exit Demonstrates Power of ARC Innovation, Sheba Medical Center’s Innovation Platform
RAMAT GAN, Israel – July 8, 2024 – ARC Innovation at Sheba Medical Center, Israel’s largest medical center and a Newsweek ranked World’s Best Hospital for the last six years, announced today another successful startup exit from within its innovation ecosystem with the acquisition of Belkin Vision by Alcon Pharmaceuticals Ltd. for $466 million.
Belkin Vision, an Israeli startup, was established under ARC Innovation in collaboration with Ramot, the technology transfer company of Tel Aviv University. ARC (Accelerate, Redesign, and Collaboration) aims to integrate groundbreaking innovations in global health through international collaborations and structured access to innovation, focusing on digital health.
Founded in 2013 by Professor Michael Belkin from Tel Aviv University’s Eye Research Institute at Sheba Medical Center and Daria Lemann Blumenthal, who serves as the CEO, Belkin Vision, developed the Eagle device. This automatic, non-contact laser treatment for glaucoma, one of the leading causes of blindness affecting about 70 million patients worldwide, received FDA approval in December.
Alcon, the global leader in eye care technology with annual sales of around $10 billion, will integrate Belkin Vision into its portfolio. Belkin Vision joins other successful ARC innovation network companies like Endoways and BurnAlong, which have also achieved notable exits recently.
“The acquisition of Belkin Vision exemplifies the resilience and vitality of the Israeli high-tech and startup sectors. This initiative is the result of a profound collaboration between Tel Aviv University and ARC Innovation Center at Sheba,” said Prof. Eyal Zimlichman, Founder and Director of ARC Innovation and Chief Transformation and Innovation Officer at Sheba Medical Center. “It highlights the synergy between technological innovation, Israeli entrepreneurship, and clinicians at the patient’s bedside, which combine to drive improved medical care, benefitting patients globally and generating investor profits
“We congratulate the management of Belkin Vision, led by CEO Daria Lemann-Blumenthal, for achieving international success despite the challenges of our time. The company is forging the path towards groundbreaking advancements in vision preservation,” said Avner Halperin, CEO of Sheba Impact, Sheba Medical Center’s entrepreneurship and commercialization arm. “The Belkin Vision team has grown the company in close collaboration with Sheba’s teams, creating life-changing solution for all of humanity.”
The acquisition agreement between Belkin Vision and Alcon was signed in early May 2024, and shortly thereafter, BioLight, one of Belkin Vision’s shareholders, reported the deal to the Tel Aviv Stock Exchange. The acquisition was completed on July 1, 2024.
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About ARC
ARC is powering the transformation of health. Through its continuous pipeline of innovation, ability to facilitate large-scale transformation, access to leading health organizations, and ability to drive economic growth and development, ARC equips all player-types in the ecosystem to transform global health. For more information, visit: https://arcinnovation.org
About Sheba Medical Center
The largest and most comprehensive medical center in the Middle East, Sheba Medical Center, Tel Hashomer is generating global impact through its medical care, research and healthcare transformation. Sheba’s City of Health boasts acute-care, rehabilitation, children’s, cancer and geriatric hospitals, research and innovation hubs, medical simulation center and center for disaster response on one comprehensive campus in the center of Israel. Sheba serves as a true hospital without borders, welcoming users and healthcare professionals from all over the world and consistently providing the highest-level medical care to all in need. Sheba has been ranked a World’s Best Hospital by Newsweek six years in a row (2019 – 2024). For more information, visit: https://sheba-global.com/