GARDEN CITY, N.Y.—20/20 Vision Center, a provider of remote eye exam systems, recently purchased the worldwide assets of Eyelogic Systems (CNSX: EYE.A), a Calgary, Alberta-based company that develops automated refraction systems, for $521,956 USD.
The agreement, which includes Eyelogic’s intellectual property rights, transfers all of Eyelogic’s title and rights to its’ proprietary software code, U.S. customer list, U.S. patent and other intellectual property to 20/20.
Concurrent with the asset sale, Eyelogic obtains an exclusive and perpetual license from 20/20 for the Canadian market. Eyelogic will continue all of its’ normal operations of manufacturing, selling, renting and servicing the Eyelogic System in Canada.
“We are delighted to enter into this transaction with Eyelogic,” said Charles Scott, chief operating officer of 20/20, based here. “The Eyelogic Refraction Software is highly complementary to 20/20’s current operations. We believe there will be opportunities for improvements from further development and enhancements of the acquired technology that will enable 20/20 to expand our foot print and capabilities.”
Mark McDonald, president of Eyelogic Systems Inc., commented, “We’re pleased to hand off the development reigns to 20/20 Vision. Acquiring our core technology will give 20/20 Vision the edge it needs to secure a distinct competitive advantage in the U.S. and beyond. We’re looking forward to focusing on serving our significant user base in Canada.”
The 20/20 Now System offers eyecare professionals advanced ophthalmic hardware and software that makes in-store eye exams accessible and more affordable. Board-certified ophthalmologists and ophthalmic technicians use real-time HD video conferencing to produce patients’ prescriptions on the spot.Back to Articles/Releases