Connect with us

Headlines

EssilorLuxottica and CooperCompanies Form Joint Venture to Acquire SightGlass Vision

SightGlass is developing lenses to reduce myopia progression in children.

mm

Published

on

EssilorLuxottica and CooperCompanies announced that they’ll create a joint venture for the acquisition of SightGlass Vision, which is developing lenses to reduce myopia progression in children.

SightGlass Vision’s technology “will complement both companies’ existing solutions, including Essilor’s Stellest lens and CooperVision’s MiSight and Orthokeratology contact lenses,” according to a press release.

The 50-50 venture will acquire SightGlass Vision from CooperCompanies. The closing of the acquisition and creation of the joint venture is subject to regulatory approvals and other customary closing conditions. CooperCompanies previously held a minority ownership interest in SightGlass Vision and completed its acquisition of the company in January.

“EssilorLuxottica is a pioneer and global leader in the vision space and expanding our relationship to better tackle the rapidly growing myopia management marketplace is extremely exciting,” said Al White, CooperCompanies CEO and president. “By combining our strengths, we look forward to increasing the life-changing offerings available to global eye-care-practitioners to combat childhood myopia. This partnership is a natural extension to our existing portfolio of innovative myopia management products, including MiSight contact lenses, and we firmly believe this partnership will strengthen our ability to accelerate those offerings.”

“We are excited to join forces with CooperCompanies, a company with a strong track-record in addressing major vision conditions, including myopia, and leverage together the SightGlass Vision technology,” Francesco Milleri and Paul du Saillant, respectively CEO and deputy CEO of EssilorLuxottica, said in a joint statement. “This partnership is fully consistent with EssilorLuxottica’s strategy to improve access to vision care, including solutions that can control myopia progression. The complementarity of our existing solutions, including Essilor’s recent Stellest lens, with SightGlass Vision’s promising technology will further strengthen our offer by providing advanced products answering to the growing needs of customers and consumers worldwide.”

Advertisement

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

Advertisement

SPONSORED VIDEO

SPONSORED BY TOPCON HEALTHCARE

With Topcon RDx® Now You Can

Introducing Topcon RDx®, a comprehensive eye health exam platform that incorporates automated and remote capabilities for your diagnostic instruments. Grow your practice beyond your physical location and deliver quality eye exams from virtually anywhere.

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular