Contact lenses manufacturing company Black Pearl Vision is looking to partner with local distributors to bring their medicated and unmedicated contact lenses to Jamaica. 

The company, a subsidiary of Black Pearl Global Investments, is the only black-owned, female-led contact lens manufacturer in the world. 

Black Pearl Global was founded in 2018 by Jamaican Dr Carl Smart, who serves as the Chief Investment Officer and CEO, Dr Shante Williams. 

Speaking on Taking Stock with Kalilah Reynolds, Dr Williams said that Black Pearl Vision is registered in Jamaica, the United States and Africa, where the products will be distributed.

The CEO said that the company’s local office is already up and running, and it intends to have an active presence on the island.

“We want to show people that we’re not just some foreign company that’s gonna come in and out. We’re here,” she said.

The executives said that they are looking to plant roots here in Jamaica and eventually expand to the rest of the region.

Dr Williams hinted that the company may be eyeing some possible acquisitions here but did not reveal any details.

However, Dr Smart did confirm that Black Pearl Global intends to raise capital on the Jamaican market.

They said that while an initial public offer is not in the cards for the immediate future, they recognise that Jamaica has an active capital market.

“We recognise that the capital market is fairly robust in Jamaica, and based on what our investment thesis is, we feel that we can generate and bring significant value to the island,” said Dr Smart.

Black Pearl Global acquired Florida-based contact lens manufacturer, Hydrogel Vision Corp, earlier this year.

Dr Smart said that the acquisition was a natural next step as the company aims to revolutionise the healthcare industry.

“I think what COVID has done is shine a light on the fact that we really need to rethink how we approach healthcare and health care investment,” he said.

“There’s still a great deal of deployment of money that needs to happen from an infrastructure standpoint and to enhance the doctor/patient relationship,” he added.

For her part, Dr Williams said that the acquisition was also a good opportunity to enter the vision sector of the health industry. 

She said that Hydrogel Vision has a positive track record of providing quality products at an affordable price.

“And ultimately we saw an opportunity to come into a market where there isn’t a lot of diversity and there is a large market,” she said.

Dr Smart explained that the goal of Black Pearl Global is to tackle healthcare needs by improving access and increasing efficiency and affordability. 

“For me, it’s always been about making sure that we are able to write cheques and get money into the hands of the people that can do the most good,” Dr Williams added. 

WATCH THE INTERVIEW HERE

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