Glaukos

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Glaukos Corporation
Public
Traded as NYSEGKOS
Industry Health care
Founded 2001 (2001)
Founder
  • Olav Bergheim
  • Richard Hill
  • Mory Gharib
Headquarters San Clemente, California, United States
Key people
Thomas Burns (President and CEO)
Revenue Increase US$45,600,000 (2014)
Decrease US$14,100,000 (loss) (2014)
Footnotes / references
financial information[1]

Glaukos Corporation is a glaucoma treatment company based in Laguna Hills, California.[1] Thomas Burns is Glaukos' president and CEO.[2]

Products[edit]

Glaukos developed the "iStent" titanium micro-stent. The device, which is about the width of a human hair, is implanted during cataract surgery to reduce intraocular pressure.[2] As of 2015, the iStent was the smallest device ever approved by the United States Food and Drug Administration.[3] The availability of the iStent led to the addition of two codes to the Current Procedural Terminology set in 2015, 0191T and 0376T.[4]

Business model[edit]

In 2015, Glaukos planned to transition from private company status to become a public company with an initial public offering (IPO) of company stock.[1] The proposed stock symbol for the company was "GKOS".[1]

Glaukos' president and chief executive officer (CEO) Thomas Burns says Glaukos was the first to develop micro-stents for the treatment of glaucoma and is well ahead of its competitors.[2] The CEO of MicroOptx, Chris Pulling, has stated that Glaukos is his "most direct" competitor.[3]

History[edit]

Founded in 2001 by Olav Bergheim, Richard Hill and Mory Gharib, the company has raised $156 million in venture funding from Versant Ventures, OrbiMed Advisors, Frazier Healthcare Ventures, InterWest Partners, Meritech Capital Partners, Domain Associates, Fjord Capital Management and Montreux Equity Partners.[2]

The company ranked 19th on the Wall Street Journal's annual Next Big Thing list in 2011.[2]

The company ranked seventh on the Wall Street Journal's annual Next Big Thing list in 2012.[2]

In June 2012, the Food and Drug Administration approved the first iStent implant.[2]

References[edit]

  1. ^ a b c d House, Douglas W. (19 June 2015). "Glaukos on deck for IPO". Seeking Alpha. 
  2. ^ a b c d e f g Norman, Jan (27 September 2012). "O.C. glaucoma treatment firm Glaukos makes 'Next Big Thing' list". The Orange County Register. Retrieved 1 October 2012. 
  3. ^ a b Grayson, Katharine (18 June 2015). "Startup with tiny glaucoma implant snags $2.4M". Minneapolis/St. Paul Business Journal. 
  4. ^ Freeman, L. Neal (15 June 2015). "CPT coding for glaucoma surgery reporting undergoes changes". Ophthalmology Times. North Olmsted, Ohio: Medical Communications Group.