Vycor Medical, Inc. is a medical device company specializing in neurosurgical products and vision rehabilitation therapies, with a focus on minimally invasive surgical access systems and non-invasive neuro-visual treatments.

# Vycor Medical, Inc. - Company Summary

## Business Overview
Vycor Medical, Inc. is a Delaware-registered medical device company operating through two main divisions:

### 1. Vycor Medical
- **Focus:** Development, design, and marketing of neurosurgical medical devices.
- **Core Product:** ViewSite Brain Access System (VBAS), a next-generation minimally invasive retraction and access system.
- **Certifications & Approvals:**
  - ISO 13485:2016 and MDSAP certified.
  - U.S. FDA 510(k) clearance for VBAS.
  - CE Marking for Europe (Class III).
  - Regulatory approvals in multiple international markets.
- **Market Focus:** Primarily sells to US hospitals and internationally through distributors.
- **Products:** Focused on surgical access for brain and spine surgeries.

### 2. NovaVision
- **Focus:** Non-invasive rehabilitation therapies for individuals with vision disorders caused by neurological brain damage (e.g., stroke).
- **Therapies & Software:**
  - Vision Restoration Therapy (VRT)
  - NeuroEyeCoach
  - Diagnostic software
- **Business Model:** Provides direct patient services and licensing/partnership strategies for digital health expansion.
- **International Presence:** Has CE mark registration in Europe for some products.
- **Strategy:** Plans include partnering for distribution, licensing, mergers, or sales, and exploring digital health leverage.

## Key Figures
- **Number of Employees:** 7 employees.
- **Customer Base:** The company sells primarily to hospitals and healthcare providers; specific customer count not provided.
- **Revenue (2024):** 
  - **Vycor Medical:** $1,515,744, an increase of $137,146 (10%) over 2023.
  - **NovaVision:** $73,580, a decrease of $8,426 (10%) from 2023.
- **Gross Margins:**
  - Vycor Medical: 89% in 2024 (90% in 2023).
  - NovaVision: 91% in 2024 (94% in 2023).
- **Net Income / Loss:**
  - **2024:** Net loss of $107,200.
  - **2023:** Net loss of $69,691.
- **Operating Loss from Discontinued Operations (2024):** $249 (down from $6,611 in 2023).

## Revenue and Business Details
- The company’s revenue growth for Vycor is driven by increased U.S. hospital sales, which grew by 17%, while international sales declined by 9%.
- NovaVision’s revenue declined slightly, reflecting ongoing early-stage development and strategic shifts.
- The company’s gross profit margin remains high, around 89-91%.

## Regulatory & Certifications
- Vycor’s VBAS products are classified as Class II devices by the FDA.
- Distribution in Europe and Canada is approved via CE marking and Health Canada licenses.
- The company maintains ISO 13485:2016 and MDSAP certification.

## Financial Health & Operations
- **Cash (2024):** $105,648 (up from $57,291 in 2023).
- **Working Capital (2024):** Deficit of approximately $3.8 million.
- **Total Assets (2024):** $998,117.
- **Total Current Liabilities:** $4,496,543.
- The company has incurred losses since inception, with net losses of $107,200 in 2024 and $69,691 in 2023.
- **Major Shareholders:** Fountainhead Capital Management Limited owns 60.95% of common stock and 69.69% of Series D Preferred Stock.

## Additional Notes
- The company operates websites at www.vycormedical.com, www.vycorvbas.com, and www.novavision.com.
- It plans to continue seeking additional financing to support operations amid a substantial doubt about ongoing viability due to continuing losses and working capital deficiency.

Vycor Medical, Inc. focuses on developing innovative medical devices for neurosurgery and rehabilitation therapies for vision disorders.

# Summary of Vycor Medical, Inc.

## Organizational Overview
- **Company Formation**: Vycor Medical, Inc. was established on June 17, 2005, as "Vycor Medical LLC" in New York, converted to a Delaware corporation in August 2007.
- **Acquisitions**:
  - Acquired **NovaVision, Inc.** on November 29, 2010.
  - Acquired **Sight Science Limited** on January 4, 2012.

## Business Units
Vycor operates two distinct business units within the medical device industry:

### 1. Vycor Medical
- **Focus**: Designs, develops, and markets medical devices for neurosurgery.
- **Key Product**: **ViewSite Brain Access System (VBAS)** - A next-generation retraction and access system used in brain and spine surgeries.
  - **Certifications**:
    - ISO 13485:2016
    - MDSAP (Medical Device Single Audit Program)
    - FDA 510(k) clearance (Class II) 
    - CE Marking (Class III for Europe)
- **Market Strategy**: Focus on increasing market penetration in the U.S. and expanding international growth, along with new product development.
  
### 2. NovaVision
- **Focus**: Provides non-invasive rehabilitation therapies for individuals with vision disorders resulting from neurological damage, such as strokes.
- **Key Products**: 
  - VRT (Vision Restoration Therapy) - Cleared as a Class II product via FDA 510(k).
  - **NeuroEyeCoach** - Registered as an exempt Class I device.
- **Market Strategy**: Partnering with entities in selective geographies to distribute products more efficiently due to large market diversity.

## Operations and Strategy
- **Number of Employees**: 8
- **Revenue Growth**: The company generated cash operating income for the year ended December 31, 2023, indicating a focus on revenue growth and reducing cash operating losses.
- **Customer Base**: Specific numbers of customers are not disclosed in the report, but the business targets healthcare professionals and institutions that utilize medical devices and vision rehabilitation technologies.

### Recent Developments
- The closure of the German operations of NovaVision and transition to a licensed model for Germany, Austria, and Switzerland.
- Launch of the **VBAS AC** in September 2022, enhancing integration with neuronavigation technologies.

## Financial Summary
- The specific revenue figures and total income are not detailed in the provided text, but the focus is on achieving operational profitability and growth in sales through strategic planning and partnerships.

## Website Presence
- The company operates multiple websites:
  - Vycor Medical: [www.vycormedical.com](http://www.vycormedical.com)
  - Vycor VBAS: [www.vycorvbas.com](http://www.vycorvbas.com)
  - NovaVision: [www.novavision.com](http://www.novavision.com)
- The German partner manages the local site: [www.novavision.de](http://www.novavision.de)

VYCOR MEDICAL INC

10-K / April 15, 2025

10-K / April 16, 2024

10-K / April 15, 2025

Vycor Medical, Inc. - Company Summary

Business Overview

1. Vycor Medical

2. NovaVision

Key Figures

Revenue and Business Details

Regulatory & Certifications

Financial Health & Operations

Additional Notes