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TearLab to acquire AOA's OcuHub technology platform

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TearLab Corp. announced it signed a non-binding term sheet to purchase the assets of the OcuHub business unit from AOA Excel Inc., the for-profit subsidiary of the American Optometric Association.

The press release explained the acquisition is expected to close in March; terms of the transaction were not disclosed.

OcuHub is a compliant technology platform designed to connect doctors, patients, health care organizations and payers, TearLab explained.

TearLab CEO, Elias Vamvakas said, "OcuHub's single sign-on portal allows for the free flow of information and serves as a standard entry point for new technology and collaboration. This acquisition is consistent with our growth strategy and represents another important step toward TearLab creating an unprecedented partnership within the eye care community."