Essilorluxottica to Buy Optegra Eyecare Clinics

Essilorluxottica Acquires Optegra Eyecare Clinics for Expansion

MILAN (Reuters) -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.

(Reporting by Elisa Anzolin; Editing by Joe Bavier)