Second Sight Medical Products Inc (NASDAQ:EYES), a developer, manufacturer and marketer of implantable visual prosthetics to restore some useful vision to blind patients, today announced plans to expand into South America by signing an exclusive agreement with Tecnosalud S.A. (“Tecnosalud”) to distribute the Argus® II Retinal Prosthesis System (“Argus II”) in Argentina.
“We are excited to partner with Tecnosalud for our expansion efforts to South America. Fourteen years ago, Tecnosalud took a cutting edge technology inArgentina, the cochlear implant, and became the number one distributor for Cochlear Ltd. in South America. Their experience in bringing new high-value medical technologies to the market includes expertise in navigating the national health system, which covers the cost of care for those with disabilities. We believe this makes Tecnosalud the ideal distributor in Argentina and that they can be just as successful with the Argus II,” said Will McGuire, President and CEO of Second Sight.
Tecnosalud will be responsible for executing in-country management of all aspects of Second Sight’s technology, including sales, marketing, national reimbursement, surgical and technical support.
“We at Tecnosalud are dedicated to bringing new high-value medical technologies to Argentina to improve the lives of our people. Over the years, we have helped restore hearing to those who were deaf. Now, we hope to restore sight to those who are blind with this incredible technology,” said Javier Brizuela, President of Tecnosalud.
Tecnosalud, located in Buenos Aires, is the largest distributor of cochlear implants and accessories in South America and the exclusive partner of Cochlear Ltd. for the past 14 years servicing the hearing impaired.
The Argus II is a device that induces visual perception in blind individuals with retinitis pigmentosa (RP) by providing electrical pulses to stimulate the retina’s remaining cells, resulting in a perception of light patterns in the brain. Patients learn to interpret these light patterns to enhance their daily lives and visual function in a sighted world. There are an estimated 10,000 individuals in Argentina who are blind due to RP, with an additional 200 people newly diagnosed each year. (Original Source)
Shares of Second Sight Medical Products closed yesterday at $4.13. EYES has a 1-year high of $19.63 and a 1-year low of $3.40. The stock’s 50-day moving average is $5.00 and its 200-day moving average is $7.45.
Second Sight Medical Products Inc develops, manufactures and markets implantable prosthetic devices that can restore some functional vision to patients blinded by outer retinal degenerations, such as Retinitis Pigmentosa.