MID LABS LTD.

MID Lab is an American ophthalmic surgical medical device developer that focuses on the research, production, and sales of innovative medical devices related to vitreoretinal surgery. Its products include the Vitreous Cutter, Single Step CIS, and AVE, and its product line is supplied to more than 30 countries worldwide. As a globally leading ophthalmic surgical instrument company, it has over 30 years of history in the research, production, and sales of ophthalmic surgical instruments. The founder, Dr. Carl Wang, has many pioneering inventions in the field of vitreoretinal surgery. MID Labs was established in California, USA, in 1981 and acquired by Alcon (with 60% market share), a global giant in ophthalmic medical devices, in 1985. Dr. Carl Wang served as Alcon’s VP for seven years before starting his second venture in 1991. In 2009, the company established a production base in Tianjin and planned to set up its China headquarters in Suzhou BioBay. The company's core technology, vitreous cutting for retinal surgery, is used in all leading vitreoretinal surgical systems worldwide. The company plans to offer a full range of vitreoretinal surgical instruments within three years and launch cataract cutting technology, which is expected to replace the phacoemulsification step in femtosecond laser cataract surgery. In 2013, the company generated revenue of $16 million (approximately 100 million RMB) with a net profit of $4.6 million. About 80% of the revenue came from partner sales. Chen Kai of Mid Labs was selected for China’s "Thousand Talents Plan."