Important news from Molteno Ophthalmic Ltd - 6th Jul 2020

Important news from Molteno Ophthalmic Ltd Molteno Ophthalmic Ltd is delighted to announce that Nova Eye Medical Inc has acquired Molteno Ophthalmic’s assets, with settlement expected on 31 July 2020. Nova Eye Medical is an Australian listed company, formerly part of Ellex. The company was renamed after the recent sale of the Ellex laser and ultrasound division. The purchase issues in an exciting new era for Molteno Ophthalmic Ltd (MOL) as it moves from private ownership to become part of Nova Eye Medical.
Founders of Molteno Ophthalmic, Tess and Ant Molteno, expressed their appreciation of the loyal and dedicated MOL staff who have been with the company through many changes and challenges and continue to manufacture the Molteno and Molteno3® glaucoma implants according to the highest international quality standards.
                     
With the acquisition, Nova Eye Medical will be able to offer ophthalmologists a portfolio of treatment technologies that cover all stages of the glaucoma disease process from the iTrack Surgical System for mild-moderate glaucoma to the Molteno3® Glaucoma Drainage Devices (GDDs) for severe or complex cases.
                  
The immediate benefit for Molteno Ophthalmic distributors and customers will be improved marketing and training for the Molteno3® GDDs. Despite offering enhanced surgical utility and optimized clinical outcomes, the Molteno3® GDDs have yet to find their rightful place at the top of the market. According to Joe Bankovich, President of Nova Eye Medical, Inc; “We will leverage our existing glaucoma-focused sales and marketing infrastructure to drive improved market penetration of the Molteno3®.”
                              
The Nova Eye Medical team understand Prof Molteno’s groundbreaking research and innovations and the unique advantages of the Molteno3® implants. They are perfectly positioned to strengthen and grow the Molteno3® brand in the global market.
 
Nova Eye Medical has acquired the lease on Molteno Ophthalmic’s cleanroom facility and is retaining the entire manufacturing workforce in Dunedin, New Zealand. Dr Nina Molteno, CEO of Molteno Ophthalmic Ltd, is contracted for a transition period to ensure that production and implant supply continues without interruption and the change in ownership is seamless.

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Molteno® Ophthalmic Limited
PO Box 6322 Dunedin
New Zealand

Phone: +64 3 479 2744
Fax: +64 3 479 2444
Email: sales@molteno.com

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