Latest news with #Optegra
Fashion Network
4 days ago
- Business
- Fashion Network
Essilorluxottica to buy Optegra eyecare clinics
Essilorluxottica has entered an agreement to buy Optegra ophthalmic clinics from MidEuropa, as the Franco-Italian eyewear group aims to expand in the medical technology industry, the companies said on Friday. Financial details of the transaction, which is expected to close later this year, were not disclosed. The Optegra group operates a network of over 70 eye hospitals and diagnostic facilities in the UK, Czech Republic, Poland, Slovakia and the Netherlands under the Optegra, Lexum and Iris brands. It serves both publicly reimbursed and private-pay patients, providing treatments and vision correction procedures such as cataract surgery, age-related macular degeneration and glaucoma treatments, refractive lens replacement and laser eye surgery. "With the acquisition of Optegra, we are stepping into a new frontier – one where comprehensive eyecare, advanced diagnostics, therapeutic interventions and surgical treatments come together in one seamless platform", Essilorluxottica CEO Francesco Milleri and deputy CEO Paul du Saillant said in a statement. Essilorluxottica was advised by Rothschild for the transaction. It is aiming to expand beyond its traditional lenses and sunglasses products, into complementary sectors characterised by a strong technological component, such as Ray-Ban Meta smart glasses or hearing aids applied to glasses.
Fashion Network
4 days ago
- Business
- Fashion Network
Essilorluxottica to buy Optegra eyecare clinics
Essilorluxottica has entered an agreement to buy Optegra ophthalmic clinics from MidEuropa, as the Franco-Italian eyewear group aims to expand in the medical technology industry, the companies said on Friday. Financial details of the transaction, which is expected to close later this year, were not disclosed. The Optegra group operates a network of over 70 eye hospitals and diagnostic facilities in the UK, Czech Republic, Poland, Slovakia and the Netherlands under the Optegra, Lexum and Iris brands. It serves both publicly reimbursed and private-pay patients, providing treatments and vision correction procedures such as cataract surgery, age-related macular degeneration and glaucoma treatments, refractive lens replacement and laser eye surgery. "With the acquisition of Optegra, we are stepping into a new frontier – one where comprehensive eyecare, advanced diagnostics, therapeutic interventions and surgical treatments come together in one seamless platform", Essilorluxottica CEO Francesco Milleri and deputy CEO Paul du Saillant said in a statement. Essilorluxottica was advised by Rothschild for the transaction. It is aiming to expand beyond its traditional lenses and sunglasses products, into complementary sectors characterised by a strong technological component, such as Ray-Ban Meta smart glasses or hearing aids applied to glasses.
Yahoo
5 days ago
- Business
- Yahoo
Ray-Ban Maker EssilorLuxottica to Buy Optegra in Medical AI Push
Ray-Ban maker EssilorLuxottica said it would buy AI-focused ophthalmology platform Optegra from MidEuropa, as part of the group's medical technology strategy. The Franco-Italian eyewear group said Friday that the deal builds on the company's offering, which spans beyond frames and lenses to include AI-powered technologies, wearables, medical instruments and science-backed eyecare solutions. It's Waymo's World. We're All Just Riding in It. Trump Says Steel and Aluminum Tariffs Will Double to 50% JPMorgan's Jamie Dimon Predicts 'Crack in the Bond Market,' Citing U.S. Fiscal Mess Taylor Swift Buys Her Early Master Recordings, Gaining Control of First Six Albums Why This Stock Market Makes So Many of Us Want to Scream Last year, EssilorLuxottica extended a partnership with Facebook parent Meta to develop smart Ray-Ban glasses, as part of its push into artificial intelligence. Optegra operates a network of over 70 eye hospitals and diagnostic facilities across the U.K., Czech Republic, Poland, Slovakia and the Netherlands. Its offering comprises ophthalmic treatments and elective vision correction procedures supported by artificial intelligence in the pre- and postoperative phases. The transaction, the financial details of which weren't disclosed, is expected to close later this year, subject to approval. Write to Andrea Figueras at The U.S. Plan to Hobble China Tech Isn't Working Judge Examines Steps to Limit Google's Reach in AI Arms Race She Always Felt Like an Outsider. Now It's This CEO's Superpower. Stocks Shrug Off Trade War to Post Best Month Since 2023 HSBC Retreats From Banking Smaller U.S. Businesses Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
EssilorLuxottica Expands Med-tech Strategy With Acquisition of Ophthalmology Platform Optegra
MILAN — EssilorLuxottica is making another acquisition in the med-tech segment. The eyewear giant said Friday it has entered into an agreement with European private equity investor MidEuropa to buy ophthalmology platform Optegra, which operates in the U.K., Czech Republic, Poland, Slovakia and the Netherlands. More from WWD Italian Fashion Associations Sign Protocol to Combat Worker Exploitation in Supply Chain The Future's in Your Frames: Smart Glasses by Even Realities Make '80s Sci-fi Predictions Real Giorgio Armani Mare Embarks on a Journey to Favorite Summer Destinations Francesco Milleri, chairman and chief executive officer, and Paul du Saillant, deputy CEO at EssilorLuxottica, said in a joint statement that with this acquisition, the company is 'stepping into a new frontier — one where comprehensive eye care, advanced diagnostics, therapeutic interventions and surgical treatments come together in one seamless platform.' EssilorLuxottica, they said, has 'the strategic assets to fuel this vision: an extensive distribution network with new clinical approaches, a smart eyewear offering with health care potential, and diagnostic capabilities that will be able to detect conditions ranging from neurodegenerative diseases to cardiovascular dysfunction.' This is a further step into EssilorLuxottica's med-tech strategy. In addition to frames and lenses, the group's offer today includes AI-powered innovative technologies, wearables, medical instruments and science-backed eye care solutions. 'Optegra and its experienced doctors will bring new medical capabilities to our group, enabling us to address patients' needs with the most advanced vision care technologies and treatments in one trusted system that will anchor our med-tech aspirations. Powered by our growing AI and big data capabilities, we will be able to broaden our impact and deliver the most personalized and seamless patient journey,' concluded Milleri and du Saillant. The Optegra group, under the Optegra, Lexum and Iris brands, operates an extensive network of over 70 eye hospitals and diagnostic facilities across Europe. The treatments and procedures supported by AI in pre- and post-op stages include sight-saving cataract surgery, age-related macular degeneration and glaucoma treatments, refractive lens replacement and laser eye surgery, serving both publicly reimbursed and private-pay patients. Dr. Peter Byloos, CEO of Optegra Eye Health Care, touted EssilorLuxottica's leadership and said the partnership 'not only accelerates our growth potential but also enhances our ability to deliver advanced, digital and integrated eye care solutions to all our patients.' EssilorLuxottica was assisted by Rothschild & Co in the transaction, which is expected to close later in 2025 pending regulatory approvals. Robert Knorr, managing partner at MidEuropa said that, after accelerating Optegra's expansion, opening new clinics, and invested in its 'its digitalization, implementation of AI technologies, and broader mission to expand access to high-quality eye care,' he believes EssilorLuxottica 'is the ideal partner to lead Optegra into its next phase of growth and innovation.' EssilorLuxottica has been ramping up its tech capabilities through several acquisitions. After introducing last year its Nuance Audio brand, a convergence of eyewear and hearing aid devices, the group in January took over Pulse Audition, a French start-up that specializes in AI-powered noise reduction and voice sound enhancement to scale up its Nuance Audio's technology. The group established the dedicated Super Audio division in the summer of 2022 and finalized the acquisition six months later of Israeli company Nuance Hearing. In mid-December, it revealed the acquisition of the Italy-based Espansione Group, which specializes in the design and manufacturing of noninvasive medical devices, protected by international patents for the diagnosis and treatment of dry-eye, ocular surface and retinal diseases. This followed the deal last July to acquire an 80 percent stake in Heidelberg Engineering, a German company that is a specialist in diagnostic solutions, digital surgical technologies and health care IT for clinical ophthalmology. EssilorLuxottica in 2024 reported revenues of 26.5 billion euros. In addition to its own brands ranging from Ray-Ban and Oakley to Persol, the group produces and distributes eyewear for brands spanning from Giorgio Armani, Brunello Cucinelli and Burberry to Chanel, Michael Kors, Moncler, Prada and Ralph Lauren to name a few. Best of WWD Lexxola Launches New Style: The Neo Chrome Hearts Debuts High-performance Ski Goggles Marchon and Lacoste Extend Eyewear Licensing Agreement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Ray-Ban Maker EssilorLuxottica to Buy Optegra in Med-Tech Push
Ray-Ban maker EssilorLuxottica SA agreed to buy ophthalmology group Optegra from MidEuropa as it expands its presence in medical technology. The terms of the deal were not disclosed. It's set to close later in the year.
