Bausch+Lomb recycles more than 5 million units of contact lens materials

Bausch+Lomb has recycled more than five million units of contact lens materials through its program’s second anniversary, Opticianreports.

The company’s ‘One by One’ recycling program for used contact lenses, blister packs and top foils has diverted a weight of nearly 31,000 pounds of waste away from landfills. 

Ms Amy Butler, vice president of Global Environment, Health, Safety + Sustainability at Bauch Health said: “Up until two years ago, there wasn’t a program that allowed contact lens wearers to properly dispose of or recycle their contact lens materials without ensuring they did not end up in our environment.

“By providing this solution to eye-care professionals and their patients, we are making strides to protect our environment from used contact lens materials and instead turning them into a variety of post-consumer products, such as recycled picnic tables and garden beds.”

By | December 24th, 2018|Business|

Safilo implements 100%nickel-free production processes

Safilo has started employing 100% nickel-free production processes in its Longarone Italy plant.

Two years after beginning laboratory tests in nickel-free production, the company has developed nickel-free and non-cyanide galvanic processes that are now fully verified and employed throughout all its production lines.

 

By | December 24th, 2018|Business|

US FDA clears Tangible-Hydra-PEG-Coated disposable contact lens

Contact lens manufacturerr Tangible Science has announced the United States Food and Drug Administration has cleared the first daily disposable silicone hydrogel contact lens coated with a modified formula of Tangible Hydra-PEG.

Tangible Hydra-PEG is a coating applied to custom contact lenses to improve lens wettability and deposit resistance, and the new lens utilises a variation designed to enhance the surface of daily wear lenses.

The new coated silicone hydrogel lens is designed to retain more water and stay cleaner during daily wear than an uncoated lens.

Wetter and cleaner lenses are associated with greater patient comfort during wear, according to Tangible Science.
The new coated lens is made from a very soft material to maximize comfort on the eye. The contact lens material also has one of the highest levels of oxygen permeability available in a disposable lens, which can enhance corneal health and further improve comfort, the company said in a statement.
The original Tangible Hydra-PEG coating is widely used to improve the lens wearing experience for custom contact lens wearers, as custom lenses are made of hard materials which can be uncomfortable and can attract deposits, the company said. While daily disposable lenses are made of softer material, many patients still experience discomfort due to dry eyes, extended mobile device use, use of

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By | December 24th, 2018|Business|

Alcon acquires Tear Film Innovations, Inc, maker of iLux device

Alcon, a division of Novartis, has acquired Tear Film Innovations, Inc.  a privately-held company and manufacturer of the iLux Device, an innovative therapeutic device used to treat Meibomian Gland Dysfunction, a leading cause of dry eye.

Hand-held and portable, the iLux device enables eye-care professionals to directly target a patient’s blocked meibomian glands and provide therapy through an in-office treatment.

The Tear Film acquisition expands Alcon’s portfolio of ocular-health products, including several treatments for the temporary relief of dry eye symptoms.
Using the iLux Device, a practitioner can warm the eyelids via disposable silicone pads to address blocked meibomian glands through the application of light-based heating. While applying the iLux device, the practitioner can view the eyelid margin and apply manually-controlled compression to express blockages, making adjustments as needed to tailor treatment to the individual needs of the patient.

Most treatments can be completed in a matter of minutes.
The iLux Device received 510(k) clearance from the U.S. Food and Drug Administration in December 2017, and was officially launched by Tear Film in May 2018 at the annual meeting of the American Society for Cataract and Refractive Surgery.

By | December 24th, 2018|Business|

Zeiss Group reports record revenues and earnings

The Zeiss Group has reported a strong performance in fiscal year 2017-18, the period ending 30 September 2018. The company said it achieved record-breaking revenue and earnings.

Revenue increased by 9% to €5.817 billion (previous year: €5.348 billion). After currency adjustments, revenue rose by 12%.

Earnings performance helped fully compensate for the unfavorable currency effects.

At €772 million, earnings before interest and taxes (EBIT) were slightly higher than the previous year (€770 million). The EBIT margin was 13%. Order intake increased by 7%, totaling €6.046 billion.

“All Zeiss segments and regions contributed to this result. Our innovative products for the semiconductor industry and medical technology in particular ensured significantly greater, above-market growth dynamics,” commented Professor Dr Michael Kaschke, president and chief executive officer of Zeiss.
“With our consistent focus on innovations, investments and expansion, we have our sights set squarely on our goal of achieving €6 billion in revenue,” Professor Kaschke said, looking ahead to fiscal year 2018-19.

By | December 24th, 2018|Business|

George & Matilda: revenue up, but borrowings too

 Retail group George & Matilda has reported a revenue increase for the year ended 30 June 2018, however its borrowings are up substantially.

According to the 2018 annual report for the George & Matilda parent company, IFIC Holdings Limited:

  • George & Matilda’s annualised revenue from its 48 stores was up 125% to $36.4m;
  • Annualised stores operating profit was $10m; and
  • Earnings before interest, tax, depreciation and amortisation (EBITDA) was $5 million;
  • Available funding was $65m as at 30 June 2018 versus $14m the year before;
  • EBITDA increased from a loss of 2.2m in 2017 to a profit of $1.4m in 2018;
  • For the full year ended 30 June 2018, revenue increased from $16.2m in 2017 to a profit of $36.4m in 2018;
  • Stores operating profit rose from $1.3m to $6.1m;
  • The number of practices owned by the company increased from 34 to 48.

The 2018 annual report shows revenue of $36,363,723, less the cost of sales of $8,541,400, to give a gross profit of $27,822,323.

Major operating expenses are $17,478,795 for employees, occupancy expenses $3,996,950 and legal expenses $2,244,639.

Current assets include $15,928,322; non-current assets $44,423,371 ; total assets $60,351,693 (of which $39,118,177 is intangible assets and goodwill.

Current liabilities are $13,324,617; non-current liabilites $34,661,551 and total liabilities (including $29,725,808 loans and borrowings) $47,986168.

Net assets and

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By | December 16th, 2018|Business|

Former health minister barred from corporate life for 2 years

A former federal health minister, Dr Michael Wooldridge, on 13 December was barred from corporate life for two years and three months after the High Court found him and four others in breach of the Corporations Act in a five-nil ruling.

The High Court found in favour of the Australian Securities and Investment Commission appeal against a lower court decision against Prime Trust founder Mr Bill Lewski and other executives of a $550 million retirement village that collapsed.

The lower court had quashed a ban against Mr Lewski and the others involved with Prime Trust because ASIC took too long to launch legal action.

Prime Trust collapsed in 2010, taking $500 million that had been pumped into it by about        9,700 investors.

By | December 16th, 2018|Business|

Optometry Board replaces three long-serving members

At its September meeting the Optometry Board of Australia Board three members who have served for the maximum three terms or nine years each. The three members were:

  • Ms Jane Duffy (Victoria) – practitioner member and chair of the board’s scheduled medicines advisory committee;
  • Mr Garry Fitzpatrick (Western Australia) – practitioner member, chair of the finance and risk committee and member of the policy and education committee; and
  • Mr Derek Fails (New South Wales) − practitioner member, member of the finance and risk committee and member of the policy and education committee.

Three newly practitioner members have been appointed – , Ms Judith Hannan (New South Wales), Ms Carla Abbott (Victoria) and Mr Stuart Aamodt (Western Australia).

 

By | December 12th, 2018|Business|