Rheon Medical

What Rheon Medical does

Rheon Medical SA is a Swiss medical device company founded in 2010 as a spin-off from EPFL (the Swiss Federal Institute of Technology in Lausanne), headquartered at EPFL Innovation Park in Lausanne, Switzerland. The company develops first-in-class glaucoma drainage devices, with its flagship product being the eyeWatch — the world's first and only non-invasively adjustable glaucoma drainage implant. The eyeWatch uses a patented magnetic disk mechanism inside a 0.57mm-thick PEEK housing to drain aqueous humor from the anterior chamber to the subconjunctival space, allowing surgeons to titrate intraocular pressure (IOP) post-operatively via the external eyeWatch Pen without surgical re-operation. The complementary eyePlate family of flexible silicone drainage plates (including the newer eyePlate-S line with smaller-diameter tubes) is designed for use with the eyeWatch and supports the Minimally Invasive Tube Surgery (MITS) technique with implantations under 15 minutes.

The company's clinical evidence base spans 1,250+ implantations and multiple peer-reviewed publications reporting strong outcomes, including 92% success rates at one year, 69% IOP reduction, and 74% reduction in glaucoma medications. Rheon holds CE Mark under European MDR 2017/745 (renewed September 2025), FDA Breakthrough Device designation (2021), and ISO 13485 certification valid until 2028. The company operates through a small core team of approximately six employees and is led by founder and CEO Nikos Stergiopulos (EPFL professor), CTO Constantinos Stergiopulos, and COO Adan Villamarin.

Rheon generates revenue primarily through one-time hardware sales of its CE-marked glaucoma drainage devices (eyeWatch and eyePlate/eyePlate-S) to ophthalmic surgeons, hospitals, and eye clinics. Distribution is executed through a combination of direct sales and country-level distributors in more than 20 markets including Switzerland, Italy, Germany, Spain, the UK, Turkey, Finland, Saudi Arabia, France, and Canada. Pricing is quote-based and not publicly disclosed, with customers directed to contact the company or local representatives for availability. The business model is a focused enterprise field-sales motion targeting specialty ophthalmology providers, supported by KOL-led clinical education, peer-reviewed publications, conference participation (EGS, ICGS, WGC), and a bilingual content marketing presence. Institutional backing comes from Swiss public organizations including FIT, Innosuisse, and the Canton of Vaud.

Name

Rheon Medical

Legal name

Rheon Medical SA

Website

https://rheonmedical.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Rheon Medical SA is a Swiss medical device company and EPFL spin-off that develops the eyeWatch, the world's first non-invasively adjustable glaucoma drainage implant, and the eyePlate family of drainage plates, selling to ophthalmic surgeons and hospitals across more than 20 countries.

Ownership category

akta.pro rank

Product category

Ophthalmic Medical Devices

NAICS

Ophthalmic Goods Manufacturing (339115), Ophthalmic Goods Merchant Wholesalers (423460)

SIC

Surgical & Medical Instruments & Apparatus (3841), Ophthalmic Goods (3851)

akta.pro primary industry

Glaucoma Diagnostics & Surgical Devices (Tonometry, Gonioscopy, MIGS, Drainage Implants, Laser Trabeculoplasty) (HLAHAJAI)

Keywords

• Glaucoma drainage devices
• Ophthalmic surgical implants
• Adjustable intraocular pressure shunts
• Refractory glaucoma treatment
• Medical device hardware

Headquarters

HQ city

Lausanne

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Others

Revenue model

1. Medical device hardware sales: Primary revenue stream from sale of proprietary glaucoma drainage implants (eyeWatch system, eyePlate, and eyePlate-S models) to hospitals, clinics, and ophthalmic surgeons. Devices sold through direct sales or local distributors/representatives in 20+ countries since 2020. One-time hardware sale per procedure, with no explicit consumable or subscription component disclosed.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels9 records

Core offering

Rheon Medical develops and sells proprietary glaucoma drainage implants, primarily the eyeWatch adjustable implant and the eyePlate / eyePlate-S silicone drainage plates, used by ophthalmic surgeons to drain aqueous humor and control intraocular pressure (IOP) in patients with refractory glaucoma. The eyeWatch system uniquely allows surgeons to non-invasively adjust flow post-operatively via the external eyeWatch Pen, eliminating the need for re-operation to titrate IOP.

Product overview

Rheon Medical offers a focused portfolio of surgical glaucoma drainage devices built around two complementary product lines: the eyeWatch system (the core adjustable implant) and the eyePlate family of drainage plates. The eyeWatch is the world's first and only non-invasively adjustable glaucoma drainage implant, designed to be used in combination with an eyePlate implant to drain aqueous humor and allow precise post-operative IOP titration via the eyeWatch Pen. The eyePlate portfolio includes the original eyePlate plus the new eyePlate-S generation (eyePlate-200s and eyePlate-300s), which feature a smaller, microsized tube designed to enable minimally invasive tube surgery (MITS). Together, these form a modular, integrated platform for refractory and advanced glaucoma treatment.

Differentiator

Problem solved

Functional benefit

Brands

• eyeWatch: The world's first and only non-invasively adjustable glaucoma drainage implant, used to regulate intraocular pressure (IOP) in refractory glaucoma patients.
• eyePlate
• eyePlate-S
• eyeWatch Pen

Products and services

• eyeWatch The world's first and only non-invasively adjustable glaucoma drainage implant. Drains aqueous humor from the anterior chamber to the subconjunctival space and regulates intraocular pressure (IOP) post-operatively via a patented magnetic disk coupling adjustable from outside the eye using the eyeWatch Pen. Device is 0.57 mm thick, made of long-term implantable PEEK, with a 0.48 mm nozzle compatible with 25G chamber entry; MR Conditional up to 3 Tesla. For use by ophthalmic surgeons in refractory glaucoma patients.
• eyePlate Original-generation silicone glaucoma drainage plate implant intended for use in combination with the eyeWatch system. Indicated for patients where medically controlled glaucoma or filtering surgery has failed or is likely to fail (e.g., neovascular, aphakic/pseudophakic, uveitic, congenital glaucoma). Designed to drain aqueous humor and reduce IOP. MR Safe.
• eyePlate-S (eyePlate-200s) New-generation silicone glaucoma drainage plate with 200 mm² surface area (16.8 mm × 14.5 mm), a microsized tube (0.47 mm external / 0.18 mm internal diameter) dimensioned for 5-0 suture stenting and 25G needle entry, and a flexible 0.80 mm profile for less-invasive insertion. Limits hypotony and supports the Minimally Invasive Tube Surgery (MITS) technique.
• eyePlate-S (eyePlate-300s) New-generation silicone glaucoma drainage plate with 300 mm² surface area (18.9 mm × 18.5 mm), microsized tube (0.47 mm external / 0.18 mm internal diameter), and flexible 0.80 mm profile. Maximizes drainage area while enabling less invasive, MITS-compatible insertion and limiting hypotony. Can be used as a stand-alone device or with the eyeWatch.
• eyeWatch Pen External magnetic adjustment device (equipped with a compass) used by trained ophthalmologists to non-invasively adjust the eyeWatch implant post-operatively. By aligning with the implant and rotating 180 degrees, it activates a magnetic coupling with the implant's internal disk to modify fluid resistance and control IOP. Adjustment takes about one minute and is entirely painless for the patient.

Quantifiable outcome

• 92% success rate at 1 year for eyeWatch (IOP 5-21 mmHg with ≥20% IOP reduction from baseline)
• +9 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered flagship, moderate and core.

• EPFL (Swiss Federal Institute of Technology in Lausanne)flagshipStrategic or Co-development PartnerRheon Medical is a spin-off from EPFL and originated from research in Nikos Stergiopulos' laboratory of Hemodynamics and Cardiovascular Technology (LHTC). The company collaborated with EPFL on developing the eyeWatch implant, with the patent filed at EPFL's Technology Transfer Office (TTO). Co-location at EPFL Innovation Park in Lausanne and ongoing research collaboration underpin the company's engineering core and product roadmap.
• International Congress of Glaucoma Surgery (ICGS)moderateGTM or Marketing PartnerRheon Medical organizes industry symposia within ICGS. In 2024 it held its first breakfast symposium in Abu Dhabi (Yas Island Hotel, April 19, 2024) on 'Enhancing outcomes in Glaucoma surgery: Spotlight on eyeWatch and eyePlate' with speakers Dr Faisal Ahmed, Dr André Mermoud, Dr Leon Au, and Dr Chrys Dimitriou.
• European Glaucoma Society (EGS)moderateGTM or Marketing PartnerRheon Medical is exhibiting at EGS 2026 Congress in Brussels (May 30 – June 2, 2026) at Booth 43 and organizing an industry symposium titled 'Beyond Traditional Tubes: The Next Evolution in Glaucoma Drainage with eyePlate-S' on May 30, 2026, with speakers Tarek Shaarawy, Faisal Ahmed, Chrysostomos Dimitriou, moderated by Konrad Schargel.
• Rheon Medical Medical Advisory Board (Dr Ike Ahmed, Dr André Mermoud, Dr Konrad Schargel, Dr Karl Mercieca)flagshipStrategic or Co-development PartnerMedical advisory board composed of well-respected surgeons active in glaucoma care and research. Members: Dr Ike Ahmed (Moran Eye Center, Toronto), Dr André Mermoud (Swiss Visio Clinic, Lausanne), Dr Konrad Schargel (KKESH Hospital, Riyadh), and Dr Karl Mercieca (Bonn University). They provide clinical guidance, lead publications, and serve as speakers at industry symposia.
• Local distributors in 20+ countries (Italy, Germany, Spain, UK and others)coreChannel Partner/ Reseller/ DistributorRheon Medical sells its devices in more than 20 countries and has signed distribution agreements in several additional countries. 'Recently, centers have opened in Italy, Germany, Spain, and the United Kingdom.' New customers are directed to contact Rheon to be put in touch with the local representative or distributor.
• Prof. Tarek Shaarawy (speaker/surgeon advocate)moderateOthersProf. Tarek Shaarawy endorsed the eyePlate-200s publicly after more than 100 implantations, calling it 'the fastest glaucoma drainage device I use' and emphasizing safety, intraoperative flow gauging, and <15 minute implantation. He is a featured speaker at the EGS 2026 industry symposium.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• New World Medical: Manufacturer of the Ahmed Valve and Baerveldt glaucoma drainage implant—two of the most widely used tube shunts worldwide. Directly competes with the eyePlate/eyePlate-S in refractory glaucoma drainage surgery.
• Sight Sciences: Markets the OMNI Surgical System, which combines trabeculotomy and viscodilation for glaucoma. Targets the same ophthalmic surgeons and competes for MIGS / mild-to-moderate glaucoma procedure share.

Broad incumbents

• AbbVie (Allergan Aesthetics / Eye Care): Through the Allergan acquisition, markets the XEN Gel Stent, a MIGS-compatible glaucoma drainage device. Direct competitor in the subconjunctival drainage space and bundles with a much broader ophthalmology portfolio.
• Alcon: Global ophthalmology leader with a broad glaucoma portfolio including the Hydrus Microstent (acquired via Ivantis), EX-PRESS Glaucoma Filtration Device, and Centurion phaco system. Sets the competitive standard against which smaller players like Rheon must differentiate.
• Johnson & Johnson Vision: Operates a broad ophthalmic surgical portfolio including glaucoma surgical devices, intraocular lenses, and laser systems. Competes for hospital contracts and surgeon mind-share with significant commercial scale.
• Bausch + Lomb: Diversified ophthalmology company with surgical glaucoma offerings (including the Ahmed ClearPath) and a global commercial infrastructure that overshadows niche players in hospital procurement negotiations.

Emerging players

• iSTAR Medical: Developer of MINIject, a suprachoroidal MIGS implant for glaucoma. Competes in the surgical glaucoma device space with similar clinical-stage positioning to Rheon and a comparable European commercial footprint.
• NovaEye Medical: Australian-listed developer of minimally invasive glaucoma surgical devices including the iTrack microcatheter. Comparable in scale and clinical-stage approach to Rheon, targeting similar surgeon and patient segments.
• Belkin Vision: Israeli developer of the Eagle Direct Selective Laser Trabeculoplasty device—an emerging glaucoma treatment modality. Competes indirectly for the same surgical glaucoma workflow and outpatient OR slots.

Regional players

• Santen Pharmaceutical: Japan-headquartered ophthalmology specialist with glaucoma pharmaceuticals and devices, including PRESERFLO MicroShunt (acquired). Overlaps with Rheon's surgical glaucoma drainage device positioning in Europe and Asia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCHyeVWOAvHi5EKXIAy6ibOw/featured
• LinkedInlinkedin.com/company/rheon-medical-sa/?viewAsMember=true
• Instagraminstagram.com/rheonmedical?igshid=MzMy%20NGUyNmU2YQ%3D%3D&utm_source=qr

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rheon Medical