Florida-based developer of laser systems for cataract surgery LENSAR announced that it had closed a total of USD 87 million in private equity and debt financing. Of the total funds raised, USD 27 million was provided by private equity firms Aisling Capital, Florida Growth and Florida Opportunity Funds. The remaining USD 60 million came from PDL BioPharma in the form of a credit agreement.
LENSAR said it would use the funds to grow and expand in North America, Europe, Latin America, Asia and other markets around the world. It would also allow the company to further develop its hardware and software-driven platform.
PDL BioPharma President and Chief Executive Officer John P. McLaughlin said, "With this financial commitment from PDL and LENSAR's current equity investors, LENSAR is now fully positioned to address the multi-billion dollar laser addressable cataract surgery market with what we believe to be a superior product."
LENSAR Chief Executive Officer Nick Curtis said that the funding would enable them to immediately reach out to more doctors to showcase the benefits of the LENSAR Laser System.
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