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June 3, 2021, 8:16 a.m. EDT

Visionology Acquires Exclusive Worldwide License to SPARCS Contrast Sensitivity Testing Technology

Patented Software to Aid in Identifying Eye Disease and Remotely Monitoring Eye Health

NASHVILLE, Jun 03, 2021 (GLOBE NEWSWIRE via COMTEX) -- NASHVILLE, Tenn., June 03, 2021 (GLOBE NEWSWIRE) -- Visionology, a subsidiary of Harrow Health, Inc. /zigman2/quotes/206805265/composite HROW +1.15% , an ophthalmic-focused healthcare company, today announced that it had acquired a worldwide exclusive license from Spaeth/Richman Contrast Sensitivity Center (SPARCS) to make its SPARCS technology available on Visionology's direct-to-consumer eyecare platform, Visionology.com . The SPARCS technology is a patented internet-based contrast sensitivity measurement tool that has been cited in more than two dozen peer-reviewed ophthalmic journals and poster presentations and is a practical and simple way to help identify eye disease and changes in eye disease, allowing for patients to self-monitor their vision at home and alert their local doctor when a visit may be needed.

The SPARCS technology was developed by world-renowned ophthalmologists George L. Spaeth, MD , director emeritus of the glaucoma service at Wills Eye Hospital, and Jesse Richman, MD, as well as Eric Spaeth.

Under the terms of the agreement, Visionology will exclusively make SPARCS available on its eyecare platform, allowing people to test themselves anywhere for free or to be monitored by Visionology eyecare professionals, which may be reimbursable under remote physiologic monitoring insurance benefits associated with chronic care disease management. As eye disease is suspected or a monitored patient shows signs of deteriorating vision, Visionology will work with local ophthalmologists and optometrists to make referrals and set appointments through the Visionology white glove appointment service. In addition, local eyecare professionals will be able to integrate the SPARCS technology into their practices, giving patients instructions for self-testing using Visionology's proprietary Eyecare-as-a-Service(TM) tools, allowing for remote monitoring and enhanced personal care with fewer in-person visits.

In commenting on the partnership, Drew Livingston, Chief Executive Officer of Visionology, said, "This worldwide and exclusive agreement will further expand the services we offer, and we believe the addition of SPARCS to our platform will help with early detection of vision changes as well as assisting in diagnosing otherwise undiagnosed eyecare conditions. We are very excited about our new partnership with the Spaeth/Richman Contrast Sensitivity Center, including our plans to partner with Dr. Spaeth, Dr. Richman, and Eric Spaeth to develop new SPARCS tests for other diagnostic and eye disease monitoring applications."

"The need for SPARCS and other tools to help with the self-diagnosis of eye disease has never been greater. A study performed at the John Hopkins Wilmer Institute some years ago found that 50% of the people who had glaucoma in that area, next to one of the greatest eye institutes in the world, were not diagnosed, an immoral, tragic situation, which we realized was not different in many parts of the world," said Dr. Spaeth. "This tragedy is exacerbated by the fact that many people are not seeking much-needed eyecare, either because they can't afford it or as a result of their reluctance to visit an ophthalmologist office due to the recent Pandemic. We believe the SPARCS test will be a valuable tool in overcoming both of those obstacles, and now, through our relationship with Visionology, it will be developed and made available domestically and worldwide to patients in need.

Dr. Richman concluded, "We are excited to partner with Drew and the Visionology team to leverage what we've built as Visionology invests in the development of new software tools that Dr. Spaeth, Eric and I have been working on for many years. We look forward to deploying these sight-saving technologies for the benefit of patients the world over. The combination of the telemedicine, marketing, and software development expertise that Drew and his team bring, coupled with our skills in delivering cutting-edge and validated tools to help patients self-assess and monitor their vision, will be a powerful union as we seek to make eyecare more accessible for patients."

About Visionology
Visionology was formed in 2020 as a direct-to-consumer eyecare subsidiary of Harrow Health, Inc. /zigman2/quotes/206805265/composite HROW +1.15% . Visionology launched its commercial platform, visionology.com , in May 2021, focused on helping patients manage chronic eye disease using a simple and seamless user experience. For more information about Visionology, please visit visionology.com .

About Harrow Health
Harrow Health, Inc. /zigman2/quotes/206805265/composite HROW +1.15% is an ophthalmic-focused healthcare company. The Company owns Visionology , a direct-to-consumer eyecare subsidiary focused on chronic eye disease, and ImprimisRx , the nation's leading ophthalmology outsourcing and pharmaceutical compounding business. Harrow Health also holds large equity positions in Eton Pharmaceuticals , Surface Ophthalmics and Melt Pharmaceuticals , all of which started as Harrow Health subsidiaries. Harrow Health also owns royalty rights in four clinical-stage drug candidates being developed by Surface Ophthalmics and Melt Pharmaceuticals. For more information about Harrow Health, please visit the Investors section of the corporate website, harrowinc.com .

About SPARCS
The SPARCS contrast sensitivity test, which has undergone extensive testing in clinical trials, is a new eye test that focuses specifically on the ability to perceive contrast between light and dark. Developed under the direction of Dr. George Spaeth, SPARCS can be used both as a measure of general eye health and as a preventive tool in relation to specific ocular diseases. SPARCS was developed with the goal of increasing access to a reliable, inexpensive and safe tool to help in the prevention of avoidable eye disease. For more information on the SPARCS contrast sensitivity test, go to sparcscontrastcenter.com .

Contact:
Jamie Webb, Director of Communications and Investor Relations
jwebb@harrowinc.com
615-733-4737

COMTEX_387780306/2471/2021-06-03T08:15:46

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/zigman2/quotes/206805265/composite
US : U.S.: Nasdaq
$ 9.66
+0.11 +1.15%
Volume: 87,199
Oct. 28, 2021 4:00p
P/E Ratio
37.01
Dividend Yield
N/A
Market Cap
$256.84 million
Rev. per Employee
$390,968
loading...
/zigman2/quotes/206805265/composite
US : U.S.: Nasdaq
$ 9.66
+0.11 +1.15%
Volume: 87,199
Oct. 28, 2021 4:00p
P/E Ratio
37.01
Dividend Yield
N/A
Market Cap
$256.84 million
Rev. per Employee
$390,968
loading...
/zigman2/quotes/206805265/composite
US : U.S.: Nasdaq
$ 9.66
+0.11 +1.15%
Volume: 87,199
Oct. 28, 2021 4:00p
P/E Ratio
37.01
Dividend Yield
N/A
Market Cap
$256.84 million
Rev. per Employee
$390,968
loading...

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