Guardion Health Sciences has signed a letter of intent to acquire VectorVision in a stock exchange transaction. VectorVision is a provider of standardized vision testing, and a leader in the field of contrast sensitivity, glare disability, and ETDRS visual acuity testing with its CSV 1000 device.
Terms of the deal were not disclosed.
VectorVision’s testing equipment is widely used by both eye care clinicians and ophthalmic researchers and has become a benchmark for standardized, highly sensitive and repeatable vision testing, according to a company news release. The acquisition of VectorVision expands Guardion’s technical portfolio and further establishes the company’s position at the forefront of early detection, intervention and monitoring of a range of eye diseases.
The acquisition of VectorVision by Guardion is subject to significant conditions precedent to closing, including, but not limited to, the satisfactory completion of due diligence, the determination of the amount of purchase consideration, the negotiation of definitive transaction documents, the completion of an audit of VectorVision’s financial statements, and other matters, no later than the June 30, 2017 expiration date of the LOI. Accordingly, there can be no assurances that this transaction will ultimately be completed.