Investment to allow company to develop new medical devices critical to cutting-edge surgeries and medical diagnostics
OCTOBER 26, 2021
Contact: William Paiva, Managing Partner, OLSF Ventures
T: (918) 625-3160
BROKEN ARROW, OK – OLSF Ventures (OLSF) recently led a $4.5 million Series A Preferred investment in Access Optics, a Broken Arrow-based global manufacturing leader of micro-scale surgical imaging products.
OLSF Ventures was joined in the investment by Plains Venture Partners, managed by i2E Management Company, Inc.; Atento Capital; Cortado Ventures; Sante Accel Ventures and Angel investors.
Access Optics’ micro imaging products are used in robotic surgical platforms as well as minimally invasive endoscopic procedures. The company’s primary focus is the development, engineering and manufacture of micro-scale visualization/imaging systems for surgical and visual inspection markets.
Access Optics was co-founded in 2000 by Bob and Pam Hogrefe and today employs 37 people at its 20,000 square foot headquarters in Broken Arrow.
“Our driving passion is to provide micro-scale surgical devices that bring about highly successful and intrinsically safe minimally invasive procedures, leading to more effective patient outcomes,” said Robert Hogrefe, the company’s CEO. “We have over 20 years’ experience in advancing state-of-the-art technologies and innovative product designs for minimally invasive and robotic surgeries.”
The investment enhances the company’s capabilities to develop new groundbreaking products critical to surgical and diagnostic applications.
“This funding allows us to develop even more sophisticated classes of these devices, especially disposable, single-use surgical devices that are key to elimination of infection carryover between surgeries, along with medical devices with diagnostic capabilities for in-situ detection of cancerous tissue,” Hogrefe said.
“The investment proceeds will also be used for state-of-the-art equipment to manufacture these medical devices in Oklahoma and acquire the engineering and sales/marketing talent required to grow AO’s presence in these markets,” Hogrefe added.
Hogrefe credits the state’s “exceptional environment” for supporting high growth businesses for the deep roots Access Optics has established as an Oklahoma company.
“An outstanding university system, a supportive state government and dedicated regional investment groups like OLSF, i2E, and Atento Capital,” he said. “Together, these set the stage for entrepreneurial opportunity”.
“Our customers are frequently billion-dollar, multinational med-tech OEMs,” Hogrefe said. “It’s a gratifying experience to bring these customers to Broken Arrow to collaborate on solutions to their surgical imaging problems.”
Access Optics distinguishes itself among industry players through multiple certifications it maintains for its design and manufacturing processes, along with its state-of-the-art manufacturing facility.
“They are one of the few companies in the U.S. that has all the certifications necessary to manufacture these precision optical devices,” said William Paiva, Ph.D., managing partner of OLSF Ventures. “There are only a handful of companies – fewer than five – that have all the certifications.”
Sean Templemore-Finlayson, OLSF Ventures Vice President, led the Access Optics investment process and brought co-investors into the deal.
“We are really excited to have it be an Oklahoma deal,” Templemore-Finlayson said. “It’s such a strong tech opportunity coming out of Oklahoma, and we partnered with predominantly Oklahoma funds to fund it.”
“It’s kind of a hometown story in that way.”
ABOUT ACCESS OPTICS
Access Optics is the leading manufacturer of micro optical components, micro optical assemblies, glass-to-metal seals and advanced thin film coatings. As a Broken Arrow, OK-based, FDA registered manufacturer, Access Optics provides OEM micro assemblies and medical/surgical devices under ISO 13485:2016 Medical Device Manufacturing and ISO9001:2015 Quality Manufacturing certifications, as well as being an ITAR-registered manufacturer of electro-optic devices and assemblies.
ABOUT OLSF Ventures
OLSF Ventures (OLSF) is an early-stage health care and life science fund that has been operational since 2000. Since inception, OLSF has invested across all spectrums of health care and life sciences, from therapeutics, devices, diagnostics, and tech-enabled services. OLSF invests in Oklahoma and the surrounding region. OLSF portfolio companies have raised over $400 million in venture capital funding after OLSF investment, over $2 billion in corporate co-development funding, and realized exits of over $1.0 billion for 5 companies. In addition, OLSF portfolio companies have generated over 800 jobs, each earning an annual income three times greater than the state average.