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Oxford Finance Closes $60MM Credit Facility with RxSight

December 02, 2020, 08:00 AM
Filed Under: Healthcare

Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $60 million senior secured term loan with RxSight, Inc. (“RxSight” or “the Company”), a privately-held, medical technology company that has commercialized the world’s first and only FDA-approved adjustable intraocular lens (“IOL”) that is customized after cataract surgery. The funds will be used for general working capital, including sales and marketing, and research and development.

The Company’s mission is to revolutionize the premium cataract surgery experience by allowing surgeons to partner with their patients to achieve optimized results for every unique eye. The RxSight® Light Adjustable Lens™ delivers superior visual outcomes—patients can now customize their vision after cataract surgery until it meets their personal desires and lifestyle requirements. This optimization is performed by an eye doctor after lens implantation through a series of office-based light treatment procedures that take only a few minutes each.

“RxSight’s proprietary Light Adjustable Lens offers an invaluable advancement in the cataract surgery market,” said Christopher A. Herr, senior managing director at Oxford Finance. “Oxford is happy to provide capital to support the Company’s innovative approach that enables optimization of vision specific to a patient’s needs.”

Today, approximately 100 leading US surgeons are using the Light Adjustable Lens to deliver outstanding customized vision for their cataract patients. “We are delighted to have partnered with Oxford Finance for additional funding to fuel continued commercial expansion and technology innovations for the premium cataract surgery market,” said Shelley Thunen, chief financial officer at RxSight.

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