In a landmark move into the medtech sector, Nikon Corporation, the 98-year-old Japanese company best known for its cameras, has agreed to buy British retinal imaging firm Optos for 259.3 million pounds ($400 million US).

Details in a joint release between the two companies about the acquisition state Nikon will pay 340 pence a share in cash for Optos, a 30.5 percent premium to the closing price on Thursday.

Commenting on the transaction, Kazuo Ushida, president of Nikon corporation, said, “I am pleased to announce this strategically important transaction for Optos and Nikon. I am confident that an Optos/Nikon combination would create a world class ‘retina’ player and would significantly benefit our respective stakeholders. Together, we will pursue various collaboration opportunities and further expand the medical business in the future.”

Dr. Peter Fellner, chairman of Optos, said, “Following the Transaction, Optos will become a key part of Nikon’s future strategy to develop a global medical business and will continue to provide its market leading solutions to the patients we serve. We are therefore pleased to recommend this acquisition to our shareholders.”

According to Nikon, the proposed acquisition of Optos is an important strategic initiative focused on driving sustainable long-term growth. As part of this initiative, Nikon aims to leverage its optical technologies and know-how into the medical industry. Retinal imaging is expected to grow significantly with the vision care needs of an aging population.

Nikon’s acquisition of Optos requires the approval of Optos shareholders, as well as court approval and anti-trust approvals and clearances. The second quarter of 2015 is when the deal is expected to close.

Nikon Corporation is one of the parent companies of Nikon Optical.

http://www.nikon.com/news/2015/optos/pdf/20150227_e01.pdf​

The Centre for Contact Lens Research at the University of Waterloo announced a collaboration with Johnson & Johnson Vision Care to provide funding for ContactLensUpdate.com.

ContactLensUpdate.com provides professionals with up-to-date educational materials regarding best practices and treatment options for eye health, with an emphasis on dry eye and contact lenses. Recently, the site has covered topics, such as the increase in myopia rates and the impact of makeup on eye health.

Content includes insights from leading researchers, patient handouts, review articles and conference highlights. New in-depth features on specific topics are added about six times yearly.

The website, now in its fourth year, is maintained by Waterloo’s Centre for Contact Lens Research and serves a worldwide audience.

The famous Hawaiian brand Maui Jim sunglasses scored a winning point by becoming a global partner of the male ATP tennis circuit.

Maui Jim announced at the ATP 500 tournament in Dubai it became the new official supplier of the ATP World Tour and Barclays World Tour Finals in London. Over a period of three years, the agreement will allow Maui Jim to enjoy global rights, as well as a presence at many tournaments sanctioned by the ATP.

“We are delighted to have joined forces with ATP as tennis is such a great fit for Maui Jim,”  said Martijn Van Eerde, marketing director for Europe, “Over the years, many players, coaches and line judges have discovered the benefits of our PolarizedPlus2 lens technology to improve their views of the game. This partnership with the ATP was the logical next step.”

For more information: http://www.opticianonline.net/maui-jim-serves-eyewear-atp-world-tour/

 

Marcolin SpA and TBL Licensing LLC have renewed their licensing agreement for the design, production and worldwide distribution of Timberland ophthalmic and sunglass frames.

The partnership was extended to December 31, 2018, with an option to renew for an additional two years.

Marcolin and Timberland signed their first deal in 2003.

Marcolin currently has over 1,450 different ophthalmic and sunglass styles on the market. It sold over $14.3 million eyeglasses in 2014. Aside from Timberland, Marcolin’s portfolio includes other well-known brands such as Roberto Cavalli, Tom Ford, Guess and Swarovski. The company pulled off a huge deal in 2013 with the acquisition of Viva International.

To read the press release: http://us.marcolin.com/upload/documenti/marcolin_announces_the_early_renewal_of_its_licensing_agreement_with_tbl_licensing_llc.pdf