IbisVision CEO, Mark Roger, joins Andrew Aldridge on the Deepbridge Discovery Podcast to discuss his background, how IbisVision was founded, how we recently secured significant funding and what the next steps and goals are for our company.
About Deepbridge Capital:
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Okay, we know that any blog about going to Las Vegas is going to ride on the back of popular memes about this well-known gambling mecca in the middle of Nevada, but if there’s one place where you want good eyesight it’s got to be this city (c’mon, we’re an eyecare tech company so we had to slip that in as well!)
Firstly, at night the place is a visual cornucopia, and mass of flashing lights that want to entice you into this and that emporium, restaurant or bar. We’re looking forward to wandering aimlessly down the strip and also dropping into some of the best-known hotels: Caesar’s Palace, the Luxor, the Venetian, the Bellagio.
Of course some of these hotels are also host to some of the world’s best known casinos. But let’s face it, we’re a careful canny Scottish company so probably no huge outlay of our personal funds here, but we’re quite happy to watch the spectacle of amateur and professional gamblers blowing money here, there and everywhere.
And let’s not forget that within travelling distance are amazing natural sights including the Grand Canyon. From the money we don’t spend in the casino we might put towards a trip there.
And finally we want to see some sun! Las Vegas has about 28 sunny or partly sunny days on average in September. We’re coming from Glasgow, where it rains on average 14 days in the month. Ugh!
Sunglasses on, eyes wide open, the bright lights a’ beckon, here we go!
IbisVision, the leading developer of remote ophthalmic technology, will roll-out its new refraction-based eye tests in the US as it seeks to tap into expertise in the world’s largest eyecare market and expand the number of early adopters it works with to help patients access eyecare more easily.
The Glasgow, Scotland-based company will be attending Vision Expo in Las Vegas in September where it hopes to conclude agreements with a number of US-based forward-looking eyecare groups. At the event IbisVision will be connecting with leading companies including VSP Vision, Topcon Healthcare and Essilor.
While the company already has extensive networks in the UK and works with the state-sponsored National Health Service, most recently on a project to extend childhood eyecare, the US is a vast and varied ophthalmic industry. The sector there dwarfs other markets and is a hotbed of technology development which can help IbisVision hone its products for the widest number of companies around the world. The country’s large rural catchment areas and densely populated urban areas, where distance and congestion can limit in-person consultations, also open up huge potential for developing the future of eyecare technology.
IbisVision’s latest technology allows opticians to determine the refractive power for corrective lenses that are needed by patients over a simple internet connection. Until now, the remote technology has been able to determine eyecare issues and the need for corrective lenses as a triage measure which then allowed for later in-person prescription calculations. The unique refraction technology will be added to IbisVision’s fully regulated and compliant platform.
IbisVision’s CEO Mark Roger said “We’ve been ramping up our US operations for some time, but it’s fair to say that the country is now the main focus for our growth and development. The reason is not difficult to see: it’s the global leader in technology; it invests vast amounts at the top end of medical science; and has the range of forward looking businesses who know that optometry among all disciplines has remote technology potential. We already have friends and investors in the US – now we want partners who can deploy our platform and most importantly patients who’ll benefit from our technology.”
Interviews can be arranged by appointment
For more information: Laura Hillhouse, marketing manager: +44 (0) 7414 558 542 email@example.com
David Clarke, press contact: +44 (0) 7887 600 234 firstname.lastname@example.org
Could we teach Ed Sheeran how to perform? Or Cristiano Ronaldo how to kick a ball? Probably not! But it does seem that in the US, the land of Silicon Valley, Apple and world-beating innovation, we’re showing them a thing or two about ophthalmic technology.
Our recent trip to the US was an amazing success. Our travels took us first to Miami and then onto New York where we made important connections and had conversations with big players in the optometry market in both states.
Throughout the visit Compiler VC, an investor in our business, led the way, introducing us to other investment companies as well as some key optical organisations. This allowed us the opportunity to discuss and gauge the response from the US market first hand. And, we were happy to have IbisVision’s technology and mission validated by those who would be looking to utilise our platform or even invest in its future. From our conversations we found that now is the perfect time for IbisVision to enter the US market with a tele-optometry solution that will transform the way eye care is provided.
IbisVision’s technology is ahead of the curve, and we know that we are primed and ready to disrupt the market. We spoke to several optical leaders, and they have confirmed and also welcomed further innovation in the market. In particular, our forthcoming introduction of remote refraction will be a game changer, allowing for an even broader range of optical tasks to be undertaken remotely.
There are also other organisations innovating in the optometry space and we were lucky enough to meet some of them at Vision Expo in New York. We saw the likes of Grand Vision who were recently acquired by EssilorLuxottica and are now “exploring new paths around digitization and innovation.” We also discussed the future of telemedicine and saw some of the team at Topcon Healthcare who are doing some amazing things in telehealth. Their telehealth solution ‘Harmony’ creates connectivity ensuring that eye care professionals can use their current software while adopting the latest technologies; a vital piece of the puzzle when introducing telemedicine solutions!
It’s safe to say we met and spoke to some big innovators in the industry. Keep an eye out on what’s next for IbisVision – we gained some exciting ideas from our time in the US as well as validating our current plan to revolutionise the optical sector; we’ll have more updates on this over the coming months! For now, we’re delighted to be offering our tele-optometry solution to the market and are looking forward to seeing IBIS-Connect in action in more and more optometry settings.
Why not take a look for yourself? Find out more about IBIS-Connect, here.
For a company like IbisVision, where our product is developed with the input and intelligence of partners and the market, meeting up with the companies who’ll use our platform is one of the most important tasks we can do. This is really vital in the US, which has the most cutting-edge health sector in the world, but also differs somewhat from the public model found across Europe, so we’re learning all the time.
The highlight in this case was making an appearance at the weekend at Vision Expo in New York where some of the biggest names in optometry were in attendance. We showcased our tele-optometry solution IBIS-Connect to numerous professionals and stopped by for a visit to the likes of Essilor and Clear Vision to speak further about what we’re doing for the market. The connections we’re making and conversations we’re having will definitely change the future of IbisVision.
From the past few days, we’ve been lucky enough to have gained some amazing feedback and observations. IbisVision is definitely at the forefront of the telemedicine evolution in optometry and over the next few days we’ve got some more exciting things coming up. We have important connections to be made in New York and we’ll be meeting with venture capitalists and remote healthcare networks to talk more about IBIS-Connect.
Our usual gripe though – our team hasn’t had much time to stop off at any of the iconic tourist attractions so we’ve added the Empire State building and Statue of Liberty to Disneyland on our “missed” list! But you never know…we might indulge ourselves just once before we fly home!
The IbisVision team will be heading to New York this weekend (jetting up from a hectic and hot Miami) to meet the world’s biggest optical players at VisionExpo, a showcase of what’s new, exciting and cutting edge for the optical industry, in one of the world’s most lively cities.
VisionExpo, the complete event for ophthalmic professionals, is one of the biggest meetings in the US optical industry and hosts the likes of eye care professionals, buyers, influencers, and technology leaders; an excellent place to mingle and talk all things optometry!
The US is an important market for IbisVision as we look to introduce our technology to a market that is worth $37.5 billion with cutting-edge innovations taking hold at a rapid pace. IbisVision will be attending VisionExpo to showcase our remote eye testing technology to some key innovators, and demonstrate in real-time exactly what it can do. We have arranged stop by meetings to demonstrate IBIS-Connect with organisations such as Essilor and ClearVision, with a few other notable names on the cards!
With some of the biggest names in optometry in attendance, VisionExpo is the perfect place for IbisVision to explore the many opportunities for entering the US market, and what better back drop than the Manhattan Skyline. If we can make it there, we’ll make it anywhere…
Want to catch up at Vision Expo? Get in touch with us, here.
IbisVision, the Glasgow-based company that’s revolutionising optometry through its remote eye test technology, is embarking on a £5 million fund raise drive in the US this week led by Florida-based investment company Compiler VC. IbisVision is also seeking in parallel to extend its commercial footprint in what is the world’s largest eye-care market.
The programme will see Chief Executive Officer Mark Roger and Chief Commercial Officer Melville Berwick over a two-week period meet with investors with access to more than $25 billion of funding. The meetings will take place in both Florida and New York and the team will also be connecting with leading eye care providers and charities.
The fund raise is led and sponsored by Compiler which is led by Adam Wolman and Yannick Henriette. The Florida-based business was an original investor in IbisVision and among its portfolio specialises in healthcare and in particular eyecare – the firm which has many years of experience within the optical sector, previously developed and then sold For Eyes, a retail optician business with 150 locations across the US.
The capital raise is part of an ambitious plan to build out IbisVision’s capabilities outside of the UK, where it currently is working with the NHS and optometrists in developing its remote eye test technology. The company already sells its technology in India, where it is used in kiosks situated in the country’s transport network.
IbisVision is now focusing on adapting its products for the $37.5 billion US market, where there is an annual tally of 88 million eye tests in a rapidly ageing population that as a result is highly susceptible to visual defects. With a widely dispersed population and a largely fragmented market of around 35,000 optometrists, there is increasing demand for the telemedicine that IbisVision specialises in.
Commenting, CEO Mark Roger said: “While Glasgow born and bred, we have global ambitions, and you cannot be a global business without a significant footprint in the US. Our proposition is very much aligned with the trends that the US investment industry is focused on, as evidenced by the continuing support from Adam and Yannick at Compiler. With increased funding from US investors, we hope to tap our international potential with a key focus being the lucrative and expanding US eye-care market itself.”
Interviews with can be arranged by appointment
For more information: Laura Hillhouse, marketing manager: 07414 558 542 email@example.com
David Clarke, press contact: 07887 600 234 firstname.lastname@example.org
Compiler Venture Capital
Hadley Case, press contact: email@example.com
IbisVision was founded in 2014 by a former eye surgeon Dr Blair Donaldson, an honorary consultant at Aberdeen Royal Infirmary and honorary senior lecturer at Aberdeen University. IbisVision’s purpose is to offer innovative eye technology that revolutionizes the customer journey, increases efficiency, and makes eye care more widely accessible. Providing multiple tests on a single cloud-based platform gives universal accessibility with a software as a service (SaaS) delivery model dramatically reducing capital expenditure. The IbisVision platform allows optical professionals to remotely examine eyes using a variety of tests including 24–2, Amsler Grid, Colour and Visual Acuity. This allows for clinicians to interact with and support their patients while they assess vision remotely as well as detecting conditions such as glaucoma, a serious ailment that can cause the loss of sight, all without any need for direct contact between the medical professional and patient. More information is available at: www.ibisvision.co.uk
About Compiler Venture Capital:
Compiler Venture Capital is a venture capital firm based in Miami and Washington DC. Compiler provides growth capital to diverse businesses that show promise in the sectors of health, science, and technology. Founded by General Partners Adam Wolman, Hossein Noshirvani, and Yannick Henriette, Compiler has had a successful track record of investing and building organizations. It has helped private companies attain their growth objectives by tapping into a set of resources, knowledge base, and network of relationships designed to help companies scale. More info available at: www.compiler.vc
This time yesterday we were en route to Miami, nestled in our plane seats likely between some people seeking a bit of winter/early spring sun and some families possibly looking to visit Disneyland and a host of other exciting attractions to be found in the Sunshine State.
Not us unfortunately! We are here on much more serious business – in fact two key elements which are pivotal for the future of IbisVision. Firstly we’ll be engaged in a round of talks with potential investors – as the world’s biggest investment market, it obviously makes sense for us to tap funding from some of the most experienced and well-known private equity investors in the world. Already, we have funding from Compiler VC, a well-known Florida-based firm who helped us get to the position where we are – to disrupt, but also to help optometrists around the world see a wider group of people, and help those optometrists identify those most at risk from online -related maladies.
But just as in the case of the US being the biggest investment market, if you’re not plugged in to the US eye-care market you’re not an international player. It’s by far and away the biggest in the world, worth about $37.5 billion, which is is pretty ginormous when you consider that export value of the Scotch whisky industry for example is about $2.5 billion annually. There are 35,000 opticians scattered across this vast nation who are all looking to reach as many patients as efficiently as they can, and that’s what IbisVision is all about.
We’re really looking forward to getting to know more about the US investment sector and most importantly it’s unique and cutting edge medical and optometry system. So while we hope many of our younger fellow travellers might be rubbing their eyes in the excitement of meeting Donald and Mickey, our eyes are focused on the biggest prize our business could win.
IbisVision, which offers breakthrough remote optometrist technology, is accelerating plans to roll out its platform to UK and US optometrists to help them in their battle to care for patients amid the ongoing Covid-19 pandemic and lockdown.
The Glasgow, Scotland-based company is hiring new client-facing staff in both the UK and US, its initial main markets, to help optometrists and opticians learn more about the products and services that can allow for remote and non-contact eye-care assessments. The rollout is being funded by an injection of investment from Miami-based Compiler Venture Capital, which also facilitates IbisVision’s entry into the extensive US optical health market. Compiler has many years of experience within the optical sector, having owned, managed and sold For Eyes, a retail optician business with 150 locations across the US.
The Covid-19 pandemic and lockdown have placed extensive limitations on businesses and professionals, with some predicting ongoing restrictions in some form for months or even years ahead. IbisVision’s technology could be lifechanging for those who at present may be unable to visit their eyecare specialist. The platform facilitates optical professionals to remotely examine eyes, or do so in the same location but without close contact, using a variety of tests including 24–2, Amsler Grid, Ishihara Colour and Visual Acuity. This allows for appointments, assessments, prescriptions, all without any need for direct contact between the medical professional and patient.
The technology could be additive to recommendations from the College of Optometrists, which in its Covid-19 guidance is advising for strict policies to ensure the potentially deadly virus is not spread through patient-optometrist contact. One of the key recommendations is to ensure that an initial video or telephone consultation is undertaken to determine the eyecare that may be required, and whether the patient may be suffering from Covid symptoms. IbisVision’s technology allows this stage to encompass a far greater range of activities, and may ultimately negate the need for an in-person consultation. Going forward the technology allows for eyecare specialists to ensure they can treat a wider range of patients, who may at present be challenged in visiting their optometrist due to illness, mobility or location issues.
The platform, which has been trialled by industry-leading opticians, has also demonstrated increased functionality independent of its distance applications. For example, by using a single piece of equipment it dramatically reduces the space needed in a practice, freeing up room for lucrative retail activities.
IbisVision has also received funding in the form of two awards from Innovate UK, a government agency established to identify and accelerate innovative business ideas with the most potential. The combined funding, as well as supporting this rollout, will allow the business to target growth areas such as remote refraction and clinician-led remote examination and disease monitoring.
Commercial Director Melville Berwick commented:
“Whilst we could never have foreseen the circumstances that we all face now, the Covid-19 pandemic has added real urgency to our efforts at IbisVision and validated our remote optometrist technology focus.
“Put simply, our technology could be the factor in saving someone’s eyesight. By allowing optometrists the ability to undertake a comprehensive eye exam without having to meet up with the patient, we are playing our part in ensuring that we find our way through these difficult times.
“I’d encourage all eyecare specialist individuals and businesses to come and talk to us and see how we can help them continue to operate under these most trying conditions.”
For more information: Laura Hillhouse, Marketing Manager: 07414558542 firstname.lastname@example.org
David Clarke, press contact:
07887 600 234 email@example.com
IbisVision is a reliable comprehensive vision platform that combines clinical experience and disruptive technology to allow Optometrists to carry out multiple eye exams on one device, on a single cloud-based platform. Our platform disrupts the traditional one instrument, one exam model and provides a high standard of eye care that can be carried out anywhere at any time. It’s quick, easy to use and portable so whatever the needs, our platform helps to provide effective eye care as well as add resilience to the businesses we’re working with. More information is available at www.ibis.vision
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