Restoring sight and hope for patients in need

Tiffany Cuddihy | Citizens Staff

Thanks to a PPP loan through Citizens, BostonSight's vision for the future is back on track.

Throughout the pandemic, even when everything seemed out of focus, BostonSight®’s vision for its future always remained clear: restore sight for as many patients as possible.

And today, thanks to a PPP loan through Citizens, BostonSight, a nonprofit, health organization that specializes in the treatment of diseased or damaged corneas and dry eyes, is doing just that.

For nearly 30 years, thousands of patients have found relief from ocular surface disease thanks to the doctors and staff at BostonSight’s Center of Excellence in Needham, Mass. The company offers a revolutionary treatment called PROSE™ (Prosthetic Replacement of the Ocular Surface Ecosystem) that uses custom-designed and fabricated prosthetic devices to restore vision and relieve suffering for these patients, many of whom have no other viable options.

“The results from our treatment is life changing,” said Sara Yost, president and CEO at BostonSight. “We’ve seen patients’ vision go from legally blind, to being able to see instantly, thanks to PROSE. Patients whose lives were limited by their eye condition can now do the everyday things that many of us take for granted, like seeing a loved one’s face clearly, driving their kids to school, maintaining a job, and living an independent life again.”

The prosthetics used in PROSE treatment are manufactured on-site in Needham, where there is also a clinic, research facility, and a patient and family support center. With so much work being done in one location, COVID-19 made it nearly impossible for BostonSight to continue business as usual.

The COVID-19 effect

As a small business that relies heavily on close contact between doctors and patients, BostonSight had to start limiting access to their facility after COVID-19 hit, in March of 2020. The nonprofit could only see patients who had an urgent or emergency condition, severely reducing operating revenue.

“Manufacturing orders were down by almost 90% at the lowest point and patient visits were severely decreased. It was extremely stressful, and it was clear that we needed some financial support if we had any hope of bouncing back,” said Glen Bunnell, chief financial officer at BostonSight.

PPP loan

Since 2016, Sharon Pacifico, VP Business Banking Relationship Manager at Citizens Bank, has worked directly with BostonSight. When she was informed that financial relief was on the way to help small businesses, she proactively reached out to Bunnell with information about the new Paycheck Protection Program (PPP) loan, a U.S. Small Business Administration (SBA)-backed program that provides loans to businesses so they could keep their workforce employed during the COVID-19 crisis.

“We view Sharon [Pacifico] as an extension of our team,” shared Yost. She continued, “As soon as Congress approved the CARES act, which provides financial assistance through PPP loans, she kept our team well-informed on the actions Citizens was taking, including the development of the loan application portal, the application process timing, and requirements.”

“Through all of the chaos, Sharon made sure that we didn’t miss any steps in the application process and thanks to her, we got the funds we needed within the month,” responded Bunnell.

The PPP loan has allowed BostonSight to maintain its staffing levels, sustain operations, support suppliers, and ensure that it can safely continue to provide the life-changing care patients rely on.

“As business is beginning to pick back up, the PPP funds have ensured that we have adequate working capital to meet our obligations and fund programs that have strengthened the resiliency of our business,” stated Bunnell. He continued,“Sharon made us feel like we were her only client, even though we knew loan application rates were extremely high and that she was extremely busy.”

Thanks to Sharon’s hard work and dedication, about 80% of her clients who applied for a PPP loan were approved.

The future looks bright for BostonSight

In 2021, BostonSight’s vision is clearer than ever. The business is set to expand services over the next year along with its network of locations

“Now that we are back on track, we’re ready and eager to get back to helping as many people in need as possible,” Yost concluded.

Ready to get your business back on track?

Apply for a PPP loan through Citizens and get the support you need to succeed moving forward.

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