CooperVision Acquires Paragon Vision Sciences
CooperVision has acquired Paragon, a leader in premium orthokeratology (ortho-k), specialty contact lenses and oxygen permeable rigid contact lens materials.
This transaction includes Paragon’s widely used CRT® Contact Lenses, worn while sleeping, that treat myopia (nearsightedness). The acquisition also expands CooperVision’s access to the Chinese myopia management market, in which Paragon has a presence.
Paragon is headquartered in Phoenix, Arizona, and will continue to retain its own offices and brands and operate as an “independent yet complementary” business.
Rich Jeffries, president of Paragon, will remain with the company, responsible for its day-to-day operations. He said, “This strategic acquisition benefits our employees, eye care professionals, and patients around the globe. By combining CooperVision’s considerable resources and expertise with Paragon’s technologies, materials and presence in markets such as China, we’ll accelerate the fight against myopia, which is expected to affect half the world’s population by 2050.”