Shervin Korangy is the president, CEO and member of the board of directors of BVI, a global manufacturer of ophthalmic devices headquartered in Waltham, Mass. Some of its recent developments are CryoTreq and the IPure IOL. Mr. Korangy has more than 25 years of general management, operational, financial and investment experience. He has held previous leadership positions at companies including Novartis Group AG and The Blackstone Group and is a co-founder of Sight Sciences.

Ophthalmology Management: How does the CryoTreq single-use cryo-pen work?

Shervin Korangy: CryoTreq is the world’s first single-use, handheld cryo-surgery device without external connections to equipment, gas tanks or power. It enables a minimally invasive way to treat retinal tears and detachments, providing an alternative to laser photocoagulation. It requires minimal time for preparation and is easy and intuitive to use, with a hand-controlled single button activation. Like existing cryo equipment, CryoTreq’s probe reaches temperatures as low as -88° C and the tip reaches cryogenic temperatures within 4 to 6 seconds after activation.

Cryosurgery is not done as much as it could be, especially in the context of vitreo-retinal procedures. BVI wanted to develop a solution that was easier to use for surgeons, so that they could deploy this method into their practice. BVI introduced CryoTreq to the European market in June 2020 and is planning to introduce CryoTreq in the United States in this year.

OM: BVI recently launched the IPure IOL. How does it work?

SK: The IPure IOL is the first aspheric single-piece IOL in the US market and their first hydrophobic IOL in the United States. IPure’s patented aspheric optic design provides high-contrast, high-quality vision in various light conditions while maintaining natural corneal depth of focus for a patient undergoing cataract surgery. This IOL delivers proven predictability in lens delivery with the safety and convenience of a disposable, preloaded injector to optimize the implantation of the IPure aspheric IOL.

We think there’s a huge benefit for this product due to the convenience that a preloaded system provides in the operating room. The injector system provides increased ease of use as nurses aren’t handling lenses prior to operation, which offers greater speed and efficiency.

IPure is a component of BVI’s CustomEyes Convenience Pack Configurator, which allows surgical teams to personalize their surgical packs with other BVI surgical consumables.

OM: Can you discuss your recent investment and collaboration with Beyeonics Vision?

SK: At BVI, we routinely assess opportunities that allow us to partner with companies that share our commitment to innovation, as well as our entrepreneurial mindset. Beyeonics Vision, a medical technology subsidiary of Elbit Systems Ltd., uses integrated augmented reality, tracking and image processing/artificial intelligence platforms to deliver improved visualization, optimized workflow and real-time support to surgeon decision-making process in the operating room. With our investment and collaboration with Beyeonics Vision, BVI can expand our offering of surgical experience during anterior and posterior segment procedures.

This collaboration also promotes a streamlined process to commercialize Beyeonics One, the first commercial ophthalmic digital imaging system to replace optical analog microscopes, in the United States, with potential for rapid expansion in territories outside of the United States.

OM: How has COVID-19 impacted your business?

SK: As a growing company, the pandemic has been disruptive. As we were climbing out of that, in the doldrums of the pandemic, we asked how we could continue to thrive despite the challenging environment. Through the 2020 time period — when many we know in the space were retrenching, reducing headcount — we grew our headcount. Our ability to expand during a time of disruption allowed us to advance in the market at a more rapid pace. That long-term perspective has been critical to our success. OM