Black Pearl Global Investments is strategically making moves to improve health disparities across the globe.
Merger Set For Mid-September
According to a press release sent to AfroTech, the Black-owned asset management firm has set foot into an agreement to acquire Florida-based contact lens manufacturer Hydrogel Vision Corp.
The merger will lead to the creation of Black Pearl Vision. The deal is projected to be finalized by mid-September. In addition, Black Pearl Vision will then become the only Black-owned and woman-owned contact lens manufacturer in the world.
“At Black Pearl Global Investments, we saw an opportunity to increase access to vision care with a quality product, not only in the United States but also in the other locations where we operate (Africa and the Caribbean). Increasing access and reducing costs are central to Black Pearl’s mission. We can achieve that in the best way when we control more aspects of the product – that includes having ownership of the supply chain and manufacturing,” Dr. Shante Williams, CEO of Black Pearl Global Investments, wrote to AfroTech in an email interview.
Black Pearl Vision Will Introduce Products For People Of Color
Currently, HVC is recognized for its product offerings including the Extreme H20 contact lenses, “made from a proprietary ultra-hydrating material that retains up to 99 percent of their moisture.”
Black Pearl Vision plans to launch a new array of products that will keep people of color at its forefront. In addition, they will integrate quality care including improved diagnoses and access to providers.
“We’re looking forward to helping to deliver more responsive vision products for people of color and bringing more diversity to the optometry space. Globally, we want to help more people see clearly – that includes providing better diagnoses, accessing providers, and delivering medications,” Dr. Williams said.
Black Pearl Vision WIll Acquire Food and Drug Administration Regulated Manufacturing Facility
Black Pearl Vision will support HVC’s 38 employees while working to increase the employment pipeline. What’s more, the company will acquire the Food and Drug Administration-regulated manufacturing facility in Sarasota, FL, to support rising businesses by creating a home for the research, development, and manufacturing process.
“We will continue to push forward with research and development on the materials as well as the manufacturing process. We will bring our venture capital experience to HVC and begin working with innovative startups to deliver more options for vision care,” Dr. Williams said.