Essilor International announced today that it has signed an agreement to acquire the 51% stake in Transitions Optical owned by PPG. The French giant already had a 49% stake in Transitions.

 

Under the agreement, Essilor will also acquire Intercast, a sun lens manufacturer based in Parma, Italy. The transaction, which is expected to close during the first half of 2014, will cost Essilor $1.73 billion, as well as a deferred payment of $125 million dollars over five years.  

 

Essilor and PPG have jointly developed Transitions Optical since it was founded 23 years ago. “We look forward to a continued strong relationship with PPG as they will be providing ongoing research and development services and optical dyes to Transitions Optical under multi-year agreements with Essilor,” said President of Transitions Optical, Dave Cole.

 

Hubert Sagnières, Essilor’s Chairman and CEO, said that the acquisition of Transitions Optical is fully aligned with Essilor’s strategy. The integration process should be smooth due to the strong ties already existing between the two entities. “It will enable us to boost expansion in the photochromic segment, which is growing twice as fast as the optical industry, notably in Asia, Latin America and Europe.”

 

Sources : http://www.essilor.com/en/Press/News/Documents/2013/CP_ACCORD%20TOI%2029%20juillet_A.pdf

http://www.bfmtv.com/economie/essilor-acquiert-transitions-optical-leader-mondial-verres-photochromiques-569392.html

 

In the 1970s, the American television series “The Six Million Dollar Man” chronicled the adventures of Steve Austin, a hero with a bionic eye. Today, the first commercial bionic eye is available on the market.

 

Of course, the Argus II bionic eye implant does not let the blind see at extraordinary distances. In fact, it does not entirely restore sight, but it does help those suffering from retinitis pigmentosis recover partial vision. Argus II is a retinal implant that operates with external glasses equipped with a tiny camera. The camera records black and white images with a 60-pixel resolution. The data is then sent to a radio receptor in the Argus II device, activating microelectrodes, which relay electric signals to the optic nerve. The message is then sent to the brain.

 

Vision is in black and white, and the level of visual acuity is 20/1,260. The implant needs a functional optic nerve to accomplish its task, which makes it inoperable in AMD or glaucoma cases.

Source: http://www.bulletins-electroniques.com/actualites/73218.htm 

 

 

Next to cosmetic contact lenses, eyelash extensions cause ophthalmologists the most worry.

 

Do any of your clients use eyelash extensions? If they do, they are at risk of developing grave side effects. The American Acadamy of Ophthalmology (AAO) recently issued a warning about the risks, particularly the following:

• Infection of the cornea,
• Infection of the eyelid,
• Swelling of the eyelid, and
• Permanent or temporary loss of eyelashes.

 

Earlier in the year, an article published in Consumer Reports discussed such issues. It reported that several patients had experienced infections and allergic reactions to formaldehyde-based adhesives used in eyelash extensions.

 

The AAO also offered some advice, which eyecare professionals could pass on to any clients who use these products:

• Ensure that the aesthetician is certified and working at a reputable establishment.
• Check that the aesthetician practices adequate hand washing and proper hygiene.
• Check the eyelash adhesive ingredients before use.

 

This advice could prevent some of your patients from taking the old adage to the extreme: “No pain, no gain!”

Source: http://www.aao.org/newsroom/release/20130508b.cfm

http://www.consumerreports.org/cro/2013/05/eyelash-extensions-can-pose-health-risks/index.htm

 

The Quebec pharmaceutical Valeant has acquired Bausch + Lomb, the global leader in eye health, for $8.7 billion.

 

Half of the payment will go directly to the investor group led by Warburg Pincus, which bought B + L in 2007 for $4.5 billion, while the other half will be used to repay B + L’s outstanding debt. To finance the acquisition, Valeant will issue $2 billion in new equity and borrow the rest.

 

Valeant will integrate its ophthalmology businesses into the new division, which will retain the name Bausch + Lomb. The pharmaceutical company expects to achieve $800 million in cost savings by 2014. B + L distributes such products as Vision Care, ONEday, PureVision, along with the Besivance, Lotemax, and Ocuvite treatments.

 

There have been rumours for months that Bausch + Lomb was being sold, but when it came time to discuss potential buyers, names like Abbott Laboratories, Johnson & Johnson, and Sanofi, even Merck & Co and Pfizer, were frontrunners, as ClipInfo.ca reported on January 8, 2013. More recently, in February, Warburg Pincus was considering the initial public offering route to unload B + L, saying it was disappointed in the bids it had received.

 

Source: http://ir.valeant.com/investor-relations/news-releases/news-release-details/2013/Valeant-Pharmaceuticals-International-Inc-To-Acquire-Bausch–Lomb-For-87-Billion/default.aspx

Wearing an eye patch six hours a day instead of two hours is much more effective after a 10-week period. Now to convince the children…

 

Researchers from the Pediatric Eye Disease Investigator (PEDI) group tested this strategy in 167 children whose amblyopia failed to improve after 12 weeks of two hours daily eye patching. After comparing a group that continued to wear the patch two hours a day with another group that wore the patch six hours a day, the researchers found significant differences. The visual acuity in 75% of children in the second group improved two lines or more on a standard test (with glasses).

 

The study shows that more eye patch time improves visual acuity. “Instead of starting with two hours and increasing, you could say if we want to achieve the optimum outcome in the shortest possible time, let’s start with a higher dose in the first place,” said Dr. Alistair Fielder, from City University, London.

Source: http://www.medscape.com/viewarticle/802876