Singapore, 18 October 2018 - HOYA Surgical Optics (“HSO”), the intraocular lens and related products division of HOYA Group, today announced that it has entered into a definitive agreement to acquire two medical device companies: US-based Mid Labs and Germany-based Fritz Ruck. Mid Labs is a California-based company focused on the research, innovation, development, engineering and manufacturing of ophthalmic medical surgical devices used to prevent blindness caused by certain retinal diseases and traumatic injuries. Fritz Ruck is based in Eschweiler, Germany, and manufactures dual function phacoemulsification machines and accessories as well as distributes other ophthalmic devices and instruments.
This acquisition will help to broaden HOYA Surgical Optics’ product portfolio and enable HSO to better serve our customers’ broader needs for high quality ophthalmic products, equipment and services. Through this, HOYA Surgical Optics aims to accelerate the growth of IOL sales and further solidify accelerating the growth of IOL sales and further solidify its position as the fastest growing IOL company globally.
The acquisition also provides an opportunity for HOYA Surgical Optics to enter the global retinal market and continue its expansion beyond the current cataract market. With the growing elderly population worldwide and the improving healthcare infrastructure in developing countries, retinal disease treatment is expected to grow at higher rates in the future. HOYA Surgical Optics will be able to leverage Mid Lab’s best-in-class vitrectomy cutters, machines and other vitreoretinal surgical products.
“HOYA Surgical Optics is currently the fastest growing IOL company in the world and 3rd largest in terms of IOL value. We are one of the leading medical device companies that contributes towards the treatment of cataract and other leading causes of blindness worldwide. The acquisition will expand HOYA Surgical Optics’ technology portfolio in surgical ophthalmology to encompass a very attractive and competitive offering within cataract surgery. It will also allow us to provide superior solutions for treatment of the retinal and posterior segment diseases,” said John Goltermann Lassen, CEO of HOYA Surgical Optics.
“Our acquisition of Mid Labs and Fritz Ruck and their combination with HOYA Surgical Optics is a natural strategic step in leveraging the HOYA Group’s existing ophthalmic and optical strengths in the eye. Together with our HOYA Vision Care (eyeglass lenses), HOYA’s Eye City retail chain (contact lenses) and HOYA Surgical Optics (IOLs) divisions, Mid Labs and Fritz Ruck represents a strong future potential complement for further technological and product advancements in our eye and vision healthcare businesses. We hope to continue establishing our business development, corporate venture capital, M&A and partnering presence in the developed and emerging markets in the medical device therapeutic areas” said Mr. Augustine Yee, Executive Officer, CLO and Head of Corporate Development and Affairs of HOYA Group.
The transaction is expected to close by the fourth quarter of 2018, subject to customary closing conditions.
About HOYA Surgical Optics
With more than 75 years of optical product expertise from the HOYA Group and over 30 years of experience in designing and producing intraocular lenses (IOL), HOYA Surgical Optics’ mission is to improve vision and quality of life for millions of people suffering from cataract.
Based on the core tenets of Quality, Trust, Dedication and Attention to Detail, Hoya Surgical Optics develops innovative and high-quality products that offer ease of use, safety and reliability to eye surgeons and ophthalmologists worldwide. HOYA Surgical Optics is the fastest growing IOL company in the world and the global market leader in developing preloaded IOLs.
HOYA Surgical Optics is a division of HOYA Group.
Founded in 1941 in Tokyo, Japan, HOYA is a global technology and med-tech company and a leading supplier of innovative high-tech and medical products.
HOYA is active in the fields of healthcare and information technology, providing intraocular lenses, eyeglasses, medical endoscopes, optical lenses as well as key components for semiconductor devices, LCD panels and HDDs.
HOYA currently employs a multinational workforce of over 38,000 people across its 150 offices and subsidiaries worldwide.
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