EssilorLuxottica Signs Agreement to Acquire Espansione Group for Accelerating Its Growth in the Med-tech Space
Thursday, December 19 2024 | 11 h 28 min | News
EssilorLuxottica announces that it has entered into an agreement for the acquisition of Espansione Group, an Italy-based company specialized in the design and manufacturing of non-invasive medical devices, protected by international patents, for the diagnosis and treatment of dry-eye, ocular surface and retinal diseases.
Espansione Group is a med-tech pioneer delivering the highest medical standards in over 40 countries. with the photobiomodulation (PBM) technology – the Light Modulation Low-level Light Therapy (LLLT) – for use in medical fields such as ophthalmology and dermatology, along with the Intense Pulsed Light (IPL) technology.
The agreement represents for EssilorLuxottica another step forward in the med-tech space and it is consistent with the Group’s strategy in elevating industry standards and improving the quality of patient care solutions.
Francesco Milleri, Chairman and Chief Executive Officer at EssilorLuxottica, commented: “We are pleased to welcome the pioneering Espansione into our Group. This investment, proudly made in one of our home countries, will expand our portfolio of medical devices and solidify our role in the optical industry. EssilorLuxottica’s med-tech journey, aimed at elevating vision health standards, will continue to be an open and collaborative one, where our products and services are accessible to all industry players.”
The transaction is subject to local regulatory review and other customary closing conditions.
Source: EssilorLuxottica
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