NeoLight Acquires Occular Screening Leader Phoenix Technology Group, Strengthening the Company's Newborn Care Global Strategy

SCOTTSDALE, Ariz., Nov. 30, 2021 /PRNewswire/ -- NeoLight LLC (NeoLight), an ASU spinout and an Arizona based newborn medical device company, today announced it has acquired Phoenix Technology Group LLC (PTG), a leading provider of advanced ophthalmic imaging devices, including a telemedicine platform for retinopathy of prematurity (ROP) screening, a leading cause of blindness in premature infants. The acquisition will expand the NeoLight product portfolio to include the ocular imaging devices Phoenix ICON™, Phoenix ICON™ GO, and the telemedicine platform Phoenix CONNECT™ (previously known as FocusROP). These products provide advanced ocular imaging through lens and light innovation, providing stunning ocular images that give clinicians the needed speed, confidence, and connectivity for patient exams.

With the addition of the Phoenix ICON and Phoenix CONNECT products, NeoLight is expanding its empathy-driven clinical offerings to diagnose and treat newborn conditions. The Phoenix ICON camera system is sold direct in the US and Canada and will now be available through the NeoLight US sales team. In addition, Phoenix ICON is sold through distribution in more than 95 countries around the world. NeoLight plans to build on this distribution network to make the Skylife Neonatal Phototherapy products available around the world giving clinicians access to this best-in-class neonatal phototherapy system.

"Since our founding at Arizona State University, NeoLight's entire focus has been to deliver the best technologies possible for the newborn care market. The technologies that will be the new gold standard for the coming decades." said Vivek Kopparthi, Cofounder & Executive Chairman of NeoLight. "PTG's technologies are state of the art and deeply empathy-driven like ours'. We are excited as this complimentary acquisition also enables us to reach a larger market with greater speed."

J. Scott Carr, Phoenix Technology Group president and Chief Executive Officer, said, "I am proud of the work the PTG team has accomplished to commercialize breakthrough imaging and telemedicine technology and bring it to clinicians around the world in their fight to save sight. NeoLight and PTG have a shared vision of providing empathy-driven care to newborns. Bringing the Skylife, Phoenix ICON, and Phoenix CONNECT products together opens the door to accelerate the growth and adoption of the full suite of clinical products."

With this business combination, NeoLight will be well positioned to address significant newborn market needs, including:

• Enhancing newborn eye screening and hyperbilirubinemia detection/treatment product offerings through combined development capabilities with customer focused innovation.
• Distribution of enhanced newborn solutions to more people around the world through an established global sales force.
• Distinguished leadership and experienced employees with commitment to serving the newborn medical community.

The Phoenix MICRON and associated systems will not be part of the NeoLight acquisition and will spin off as a separate entity.

About Skylife

Commercialized in 2020, Skylife™ Neonatal Phototherapy System brought innovation to a stagnant phototherapy market by delivering best in class spectral power which exceeds AAP Guidelines for the management of hyperbilirubinemia in the newborn. Skylife delivers hospital grade care to the home which impacts treatment times and re-admittance; while promoting family bonding through efficiency, safety, quality, and ease of use

About the Platforms: Phoenix ICON™, Phoenix ICON™ GO, and Phoenix CONNECT™.

In 2017, Phoenix Technology Group launched the Phoenix ICON™ platform which reinvented wide-field retinal imaging for human clinical applications. Phoenix ICON delivers stunning high-contrast, high-resolution images, with quality you can see and data you can trust. Phoenix Icon Go provides the same stunning images and ease of use in an easily portable system for remote screening and portability.

Recognizing that telemedicine is the future of retinopathy of prematurity (ROP) screening, in 2018, Phoenix launched the Phoenix CONNECT™ platform, which today is the most widely adopted telemedicine platform for retinopathy of prematurity (ROP) screening. The CONNECT platform connects the nursing, ophthalmology, and neonatology teams to enable delivery of the best care by facilitating timely expert screening of babies in any NICU. And the platform implements a proven screening workflow that generates critical photo documentation to enhance treatment determination and reduce risk.

About NeoLight LLC:

NeoLight is a medical device company that develops empathy driven, best in class technologies for treating preventable conditions in the newborn care market. Empathy driven solutions are a framework that has the doctor-nurse-mother-infant ecosystem at the center. It fosters the emotional connection that happens, thereby providing not just treatment but also providing care. Driving neonatal care beyond the traditional hospital setting, NeoLight is also creating a robust home market to treat neonatal conditions in the home. To learn more, visit www.theneolight.com and follow us on Twitter, LinkedIn, and Facebook.

About Phoenix Technology Group:

Phoenix Technology Group empowers people to see: the company empowers researchers to see more in their fight to prevent blindness; the company empowers clinicians to see more in their fight to save sight. The company does that by providing clinicians and researchers around the world with stunning retinal images, coupled with timely and accurate data about the retina and the eye.

Media Contact:
Kelly Johnson
NeoLight
801-644-5918
kelly@theneolight.com

Photo - https://mma.prnewswire.com/media/1698018/Vivek_Kopparthi.jpg