The acquisition from London-based private equity group MidEuropa will boost the Franco-Italian eyewear company’s med-tech portfolio.
Franco-Italian eyewear company EssilorLuxottica has acquired ophthalmology platform Optegra from London-based private equity group MidEuropa to boost its med-tech portfolio.
Financial terms have not been disclosed.
Established in 2007, the Optegra group, under the Optegra, Lexum and Iris brands, operates a network of more than 70 eye hospitals and diagnostic facilities across Poland, Czech Republic, Slovakia, Holland and the UK and offers medically necessary ophthalmic treatments and elective vision correction procedures supported by AI in pre- and post-op stages. These 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.
“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,” said Francesco Milleri, chairman and chief executive officer of EssilorLuxottica.
Double-digit growth
MidEuropa acquired a majority stake in Optegra in November 2022 from investment firm H2 Equity Partners.
At the time, the group had 29 facilities across four countries in Europe.
“We supported the opening of new clinics in the UK and completed eight strategic add-on acquisitions across five countries,” said Robert Knorr, managing partner at MidEuropa.
The group now has 19 locations across England and treats both private and NHS patients.
In its last accounts for the financial year to December 2023, the company reported double-digit revenue growth in the UK. Turnover rose 35% to £60.6 million predominantly on the back of NHS service offerings.
The sale to EssilorLuxottica is expected to close later this year pending regulatory approvals and other customary closing conditions.
