Hoya Surgical Optics Acquires Mid Labs and Fritz Ruck

Tuesday, October 30 2018 | 09 h 35 min | Agreements and Acquisitions, News, Press Release

HOYA Surgical Optics announced that it has entered into a definitive agreement to acquire two medical device companies: US-based Mid Labs and Germany-based Fritz Ruck.

Mid Labs is a Californiabased company focused on the research, innovation, development, engineering and manufacturing of ophthalmic medical surgical devices used to prevent blindness caused by certain retinal diseases and traumatic injuries. Fritz Ruck is based in Eschweiler, Germany, and manufactures dual function phacoemulsification machines and accessories as well as distributes other ophthalmic devices and instruments.

“Our acquisition of Mid Labs and Fritz Ruck and their combination with HOYA Surgical Optics is a natural strategic step in leveraging the HOYA Group’s existing ophthalmic and optical strengths in the eye. Together with our HOYA Vision Care (eyeglass lenses), HOYA’s Eye City retail chain (contact lenses) and HOYA Surgical Optics (IOLs) divisions, Mid Labs and Fritz Ruck represents a strong future potential complement for further technological and product advancements in our eye and vision healthcare businesses. We hope to continue establishing our business development, corporate venture capital, M&A and partnering presence in the developed and emerging markets in the medical device therapeutic areas,” said Mr. Augustine Yee, Executive Officer, CLO and Head of Corporate Development and Affairs of HOYA Group.

The transaction is expected to close by the fourth quarter of 2018, subject to customary closing conditions.

Click HERE to read the full press release.