Headlines Prestige Consumer Healthcare Acquires TheraTears and Other Brands for $230M TheraTears offers ‘long-term growth opportunities in the fast-growing dry eye segment.’ Published 1 month ago on June 16, 2021 By INVISION Staff Share Tweet TARRYTOWN, NY — Prestige Consumer Healthcare Inc. is acquiring a portfolio of over-the-counter consumer brands from specialty pharmaceutical company Akorn Operating Co. LLC for $230 million in cash. The portfolio features the TheraTears eyecare brand, which represents about 80 percent of portfolio revenues, as well as four other brands in the VMS and and cough and cold categories. TheraTears is a doctor-created brand with heritage dating to the mid-1970s when ophthalmologist Dr. Jeffrey Gilbard began research into treatment and relief of dry eyes. “Prestige has a long and successful history in the eye care space highlighted by the iconic Clear Eyes brand,” said Ron Lombardi, chairman and CEO of Prestige Consumer Healthcare. “The acquisition of the proven TheraTears brand will further enhance this leading eye care franchise with additional long-term growth opportunities in the fast-growing ‘dry eye’ segment.” The transaction is expected to close during the fiscal second quarter, subject to customary closing conditions The acquisition is estimated to add annual revenue, earnings per share and operating cash flow of about $60 million, $0.10 and $13 million, respectively. Advertisement Related Topics:Latest News TopPrestige Consumer HealthcareTheraTears click to Comment(Comment) Up Next Texas ODs Win Expanded Scope of Practice Don't Miss 44% of Eyeglass Buyers Looked to Internet for Help in 2020, Survey Finds INVISION Staff Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected]. SPONSORED VIDEO Sponsored by Shamir Customer Focused, Service Oriented, Forward Thinking for life improvement, fashion, performance sports, occupational single vision, and progressive lenses. Our values, the driving force behind our ideas and actions, keep the ECP in the center. Every Shamir representative is personally committed to our customers’ vision, and to providing the best service and support to meet and exceed their expectations, all with a personal touch. You may like All the Cool Eye Decor You Need and More Business Boosters for August and September Kings Guard Gaming and VSP Global Innovation Center Establish Partnership 2021 Dr. Marvin R. Poston Leadership Award Recipients Promoted Headlines Transform Your Multi-Office Phone System Into a Revenue-Generation Tool WEAVE Remastering an Icon Safilo Safilo Introduces Under Armour’s First-ever Optical Collection Safilo Advertisement Latest Trending Videos Tools and Equipment10 hours ago All the Cool Eye Decor You Need and More Business Boosters for August and September Press Releases10 hours ago Kings Guard Gaming and VSP Global Innovation Center Establish Partnership Press Releases24 hours ago 2021 Dr. Marvin R. Poston Leadership Award Recipients Press Releases1 day ago EyeCare4Kids Reaches Historic Milestone; 400,000 Kids Helped Press Releases1 day ago OneSight Serves 267 Patients in the Bronx Headlines2 weeks ago US House Bill Would Expand Medicare to Include Vision Care Photo Gallery1 week ago ECPs Glam It Up in Their Top Eyewear Picks America's Finest3 weeks ago This Clever Business Model Means Total Control for One Minnesota Optical Headlines5 days ago Warby Parker Rolls Out ‘Virtual Vision Test’ App Headlines2 weeks ago Video: 3 Accused of Selling Counterfeit Contact Lenses in Los Angeles Press Releases1 week ago Sun Pharma Launches Third Dry Eye Gets Personal Video Campaign Headlines2 weeks ago Video: 3 Accused of Selling Counterfeit Contact Lenses in Los Angeles Press Releases2 weeks ago Sun Pharma Releases Second Dry Eye Gets Personal Video Campaign Press Releases3 weeks ago Sun Pharma Launches Unbranded ‘Dry Eye Gets Personal’ Video Campaign Sponsored Content1 month ago Transform Your Multi-Office Phone System Into a Revenue-Generation Tool Advertisement SubscribeBULLETINS Get the most important news and business ideas for eyecare professionals every weekday from INVISION. Advertisement Most Popular Headlines5 days ago Warby Parker Rolls Out ‘Virtual Vision Test’ App Headlines4 days ago Nova Southeastern Names Optometry Dean Mark Hinton1 week ago ECP Excellence is Within Your Grasp If You Keep these 19 Things in Mind Products3 days ago The Internet’s Influence on Eyewear Consumers Has Doubled and More of What You Need to Know for August 4ECPs1 week ago 7 Reasons to Use LinkedIn for Your Independent Eyecare Business Best of the Best1 week ago This OD and Marketing Expert Is Blazing A Trail in ‘Social Audio’ Manager's To-Do1 week ago Back to School and Vision Expo West Planning Collide and More Manager’s To Dos for August and September Columns5 days ago Does Private Practice Development Consulting Make a Difference?