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Paradigm Medical Industries and Pharmacia Corporation Renew Strategic Alliance in Ophthalmic Cataract Surgical Market

Strategic Insights

— 1 min read

Paradigm Medical Industries, Inc. and Pharmacia Corporation announced the renewal of their strategic alliance contract at the recent annual meeting of the American Society of Cataract and Refractive Surgeons (ASCRS) in Boston, Massachusetts. The contract strengthens their competitive position in the ophthalmic cataract surgical market, with Paradigm supplying surgical equipment and Pharmacia providing surgical products, including Healon, Viscoelastics & CeeON IOLs. The alliance aims to provide innovative solutions, such as the PHOTON Laser Cataract Removal product, which is awaiting FDA approval.

Key Takeaways:

  • Paradigm Medical Industries, Inc. and Pharmacia Corporation renewed their strategic alliance contract to enhance their competitive capability in the ophthalmic cataract surgical market.
  • The alliance continues to supply surgical equipment and products, including Healon, Viscoelastics & CeeON IOLs, to customers.
  • The partnership aims to provide innovative solutions, such as the PHOTON Laser Cataract Removal product, which is awaiting FDA approval.
  • Over three million cataract procedures are performed in the United States every year, underlining the competitive nature of the market.
  • The Eye Alliance was formed by joining Pharmacia Corporation, Paradigm Medical Industries, Inc., and Maxxim Medical to provide a comprehensive package of products, including customized procedural trays, for the entire cataract procedure.
  • Maxxim Medical, a major manufacturer of custom surgical packs, will collaborate with the Eye Alliance to provide successful surgical solutions.
  • Paradigm Medical Industries, Inc. develops, manufactures, and markets diagnostic eye care equipment and surgical systems for minimally invasive cataract treatment to global markets.

Statistics:

  • Over 3 million cataract procedures are performed in the United States each year.
  • The strategic alliance renewal contract aims to strengthen the competitive capability of both Paradigm and Pharmacia in the ophthalmic cataract surgical market.
  • The PHOTON Laser Cataract Removal product is awaiting FDA approval.

Sources:

  • Paradigm Medical Industries, Inc. press release, Business Wire, May 23, 2000.
  • American Society of Cataract and Refractive Surgeons (ASCRS) annual meeting, Boston, Massachusetts.

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