What is Brief History of Eyebright Medical Technology Company?

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How has Eyebright Medical Technology Revolutionized Eye Care?

Founded in 2010, Eyebright Medical Technology, a Eyebright Medical Technology SWOT Analysis, has rapidly become a key player in the global eye care industry. This medical technology company, based in Beijing, China, has consistently focused on innovation to improve eye health. Their journey showcases a compelling story of technological advancement and market impact, making them a fascinating case study in healthcare technology.

From its early products to its recent NMPA approval of the Loong Crystal PR phakic intraocular lens in January 2025, the company timeline reveals a commitment to medical device innovation. Eyebright Medical Technology's impact on eye care is evident as it challenges established players and capitalizes on the projected growth of the ophthalmic devices market. Understanding the brief history of Eyebright Medical Technology's founding and its major milestones is crucial for investors and industry observers alike.

The Marketing Strategy of Eyebright Medical Technology, a medical technology company, has a compelling founding story that began in 2010. It was established by Jiangbing Xie, who returned to China after working at Abbott Laboratories. His vision was to create a company focused on medical device innovation.

The company, known as Eyebright Medical Technology (Beijing) Co., Ltd., set up its headquarters in the Science and Technology Park, Changping District, Beijing, China. The name 'Eyebright' reflects its commitment to ophthalmology and its mission of improving eye health. Eyebright's initial business model focused on the research, development, manufacturing, and sales of ophthalmic medical devices.

Eyebright's early focus was on products for eye examinations, diagnosis, and treatment. The company secured investments from Fidelity International (Eight Road), 3E Bioventures, and Tuspark Venture Capitals. A major milestone in the Eyebright history was its Initial Public Offering (IPO) on the Shanghai Stock Exchange STAR Market in July 2020, where it raised approximately RMB 882 million (US$121.29 million).

Key Milestones in Eyebright's History

Here's a look at some important moments in the company's timeline:

• 2010: Eyebright Medical Technology was founded by Jiangbing Xie.
• Early Funding: Secured investments from Fidelity International (Eight Road), 3E Bioventures, and Tuspark Venture Capitals.
• July 2020: Eyebright's IPO on the Shanghai Stock Exchange STAR Market, raising approximately RMB 882 million (US$121.29 million). The share price surged over 500% on its first trading day.
• Focus: The company's primary objective has been to enhance eye health through continuous technological innovation and medical device innovation.

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The early growth of Eyebright Medical Technology, a medical technology company, focused on expanding its product portfolio and market reach. This expansion included strategic acquisitions and geographical diversification. The company's journey involved significant investments in research and development, leading to advancements in eye care. This approach helped Eyebright Medical Technology establish a strong presence in the medical device innovation sector.

Product Portfolio and Market Reach

Eyebright Medical Technology's core product categories include intraocular lenses (IOLs), orthokeratology lenses, and soft contact lenses. Early product launches included the Proming™ and Prosert™ series of intraocular lenses. Defocus frame lenses were also introduced. These products catered to cataract surgery, myopia management, and consumer vision care, contributing to the company's early success.

Financial Performance

In the first half of 2024, the Proming™ and Prosert™ series of intraocular lenses saw a 30.20% year-on-year revenue increase. Defocus frame lenses experienced an 86.78% year-on-year revenue increase during the same period. The company reported a total operating revenue of RMB 1.41 billion in 2024, a 48.22% increase year-on-year, with a net income of RMB 0.387 billion, an increase of 27.36% year-on-year.

Strategic Acquisitions

Eyebright pursued strategic acquisitions to expand its market influence and product offerings. In 2021, the company acquired Jiangsu Tianyan Medicine Technology Co. Ltd. to enter the soft contact lens market. This was followed by the acquisition of a controlling interest in Fujian Unicon Optical Co. Ltd. in 2023. These moves were key milestones in the Eyebright Medical Technology's history.

Contact Lens Revenue and Market Presence

The acquisitions significantly boosted contact lens revenue. Contact lens revenue surged by 956.92% year-on-year to RMB 183.47 million in the first half of 2024, accounting for 26.76% of total revenue. Eyebright expanded geographically beyond its Beijing headquarters, establishing multiple subsidiaries across China and surrounding regions, including Suzhou, Hangzhou, and Hong Kong.

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The Eyebright Medical Technology has achieved significant milestones, marking its journey as a prominent medical technology company. These achievements highlight the company's growth and impact on the healthcare technology sector.

Eyebright Medical Technology has consistently pushed the boundaries of medical device innovation. The company's focus on research and development has led to groundbreaking products, such as the Loong Crystal PR phakic intraocular lens, designed to correct myopia.

Loong Crystal PR Phakic IOL

The Loong Crystal PR phakic intraocular lens received NMPA approval in January 2025, designed to correct myopia ranging from -3.25D to -18.00D.

Multifocal IOL

In November 2022, approval was granted for China's first domestically developed multifocal intraocular lens for cataract patients, addressing a significant market need.

Despite its successes, Eyebright Medical Technology has faced challenges, including market downturns and economic conditions. However, the company has demonstrated resilience and strategic adaptability.

Market Downturns

Economic conditions in China have impacted consumer confidence, presenting a challenge to sales and market growth.

Financial Performance

In 2024, the company reported revenue of RMB 1,410.02 million, a 48.24% increase, and a net profit attributable to shareholders of RMB 388.40 million, up 27.77%.

Strategic Partnerships

A January 2025 collaboration with Meituan Health established China's first 24-hour smart contact lens stores in Beijing to boost local sales.

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The Eyebright history is marked by significant advancements in the medical technology company. The company's journey includes strategic acquisitions, innovative product launches, and expansions in the global market.

Future Growth

Eyebright Medical Technology aims to strengthen its leading position in the ophthalmic industry. It plans to expand its product pipeline and boost medical equipment research. The company is focused on delivering world-class eye care solutions globally.

Production Capacity

Eyebright plans to form an annual production capacity of 252 million contact lenses and 500 million pairs of molds after the completion of a fundraising investment project. This expansion will significantly increase its market reach and production capabilities.

Market Expansion

The global ophthalmic devices market is projected to reach USD 73.74 billion by 2034, growing at a CAGR of 4.80% between 2025 and 2034. Eyebright intends to expand its market presence, particularly through its Hong Kong international headquarters.

Technological Advancement

Eyebright Medical Technology will leverage its 'intelligent manufacturing' capabilities to become a world-leading medical enterprise. This focus on technology and innovation is key to its future success. The company's vision is 'Illuminate Your World'.

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