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Triangle portfolio company 20/10 Perfect Vision completes exit
Bausch & Lomb buys operating company Technolas Perfect Vision for up to EUR 450 million


St. Leon-Rot – November 9, 2012

According to Dow Jones data, it is the largest German VC-backed exit since 2005 and the second largest trade sale in Europe in 2012. But the beginnings were humble. It all started in a lab at the University of Heidelberg's Applied Physics Kirchhoff Institute. Serial inventor and entrepreneur Prof. Joseph Bille and his PhD graduate Frieder Loesel had nothing more than a benchtop prototype and a few patents - something that would later revolutionize eye surgery. Scouted by Triangle's Bernd Geiger, FDA approval for the WaveScan device was received within 12 months of the formation of the Perfect Vision start-up. The device gives unparalleled eyesight to people with faulty vision.

After an early partial exit, the company focused on its femtosecond eye treatment device that substitutes 'cruel' blade flap cutting laser vision correction with an all-laser soft light treatment. Later, through an ingenious intellectual property reverse merger, the company benefited from a customer base of more than 1,000 ophthalmology practices around world. With the help of another serial entrepreneur and ophthalmology veteran Kristian Hohla, the company developed into the market leader and most innovative eye surgery device manufacturer, whose products render reading glasses unnecessary and gently remove cataracts - the two most common visual impairments in an ageing society.

Perfect Vision is yet another example of the power of research and innovation to support humankind and generate wealth. It's also a solid case for the importance of venture capital - without the determined spirit of its founders and the support and imagination of the early investors, this success story never would have been written.

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About Triangle:

Triangle is an early stage venture capital investor with a focus on disruptive high-technology applications for the IT, medical device and clean-tech industries originating from research centers and recently the European Space Agency. The uninterrupted continuation of this strategy since 1997 makes Triangle one of the preferred investors in European research spin-off activities.


Comments? Queries? Suggestions?

We’re always keen to hear from our audience - please drop us a line:

Uli W. Fricke
Triangle Venture Capital Group

Marktstrasse 65
68789 St. Leon-Rot
Germany

Phone:
+49 6251 80 08 30

Fax:
+49 6251 80 08 39

u.fricke@triangle-venture.com

www.triangle-venture.com


Publisher Contact Information:

Triangle Venture Capital Group
+49 6251 80 08 39
u.fricke@triangle-venture.com

Company profile of Triangle Venture Capital Group Management GmbH
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