US Food and Drug Administration approval for Daytona retinal scanning device
EYECARE technology firm Optos has secured marketing clearance for a table-top version of its retinal imaging device.
Following the green light from the US Food and Drug Administration the Daytona product is now scheduled to be launched early next year.
The cheaper technology is the Dunfermline company's next-generation ultra-wide field retinal scanning device.
It hopes to create a new market and begin to replace larger standalone machines, many of which are leased to customers.
Optos chief executive, Roy Davis, said: "FDA approval for Daytona is an important step towards commercial launch.
"We plan to unveil details of the product at the American Academy of Optometry in October and to commence product shipments early next year.
"We believe that Daytona will allow us to globalise our core imaging technology, enabling us to penetrate new geographic markets and expand our presence in existing markets."
Analysts have so far been wary in endorsing Optos' business model switch from renting to selling devices.
Paul Cuddon of Peel Hunt warned Optos may end up sacrificing long term revenues for short term gains.
However Optos believes the switch would lead to longer term relationships with clients and will bring more product sales in the long run, including devices made by Optos Global, which it acquired last year.
Optos, which makes the bulk of its sales in the US market, posted an 82 per cent rise in third quarter revenues in July, with sales for the year so far up 43 per cent to $102 million.
Shares in Optos rose more than three per cent in early trading today following the FDA announcement.