RxSight

RxSight

RxSight was founded in 1997 by Ron Kurtz, an ophthalmic surgeon and biomedical engineer who serves as CEO and president. The company originated from research at the University of California, Irvine, and the California Institute of Technology, where Kurtz and collaborators developed a silicone intraocular lens whose optical power can be adjusted non-invasively after cataract surgery using ultraviolet light. The technology addresses a fundamental limitation in cataract surgery: residual refractive error that standard fixed-power lenses cannot correct. RxSight commercializes the Light Adjustable Lens (LAL) and the Light Delivery Device (LDD), a system that allows surgeons to lock in a patient's vision with light treatments performed over several postoperative visits. The platform differentiates from premium intraocular lenses—toric, multifocal, extended-depth-of-focus—by giving patients and doctors the ability to refine visual outcomes after the eye has healed. The company targets the $7 billion global cataract surgery market, where premium lens adoption is growing faster than the overall procedure volume. Its direct sales force calls on both comprehensive ophthalmologists and high-volume cataract surgeons across the United States. RxSight announced its 100,000th lens implantation in early 2024, roughly a year after surpassing 50,000 cumulative implants, demonstrating accelerating commercial traction. RxSight went public in 2021 through an initial public offering priced at $16 per share, raising roughly $135 million. The company operates from its headquarters in Aliso Viejo, California, where it manufactures the LAL and LDD systems. It reports a single operating segment and carries no long-term debt. In October 2024, the Centers for Medicare & Medicaid Services finalized an OPPS rule extending separate payment for the LAL through 2027, preserving a key reimbursement pathway that supports hospital outpatient adoption. The company does not maintain adjacent vehicles, club structures, or philanthropic foundations distinct from the publicly traded entity. RxSight holds the only FDA-approved adjustable intraocular lens in the United States, a regulatory moat built over two decades of clinical development. Unlike competitors that iterate on preoperative measurement and surgical planning, RxSight moves the decision point into the postoperative period—a structural difference that re-orders the cataract workflow and creates a durable reimbursement and training advantage as the category matures.