EssilorLuxottica signs an agreement to acquire a majority stake in Heidelberg Engineering and continues to make moves in the med-tech space

17 Jul 2024 08:00 CEST

Issuer

ESSILORLUXOTTICA

EssilorLuxottica signs an agreement to acquire a majority stake in Heidelberg Engineering and continues to make moves in the med-tech space

The transaction will create growth opportunities for Heidelberg Engineering and confirms EssilorLuxottica’s commitment to further elevating industry standards and enhancing patients’ quality care

Paris, France and Heidelberg, Germany (17 July 2024 – 8 am CEST) – EssilorLuxottica and Heidelberg Engineering announced today they entered into an agreement for the acquisition of an 80% stake in Heidelberg Engineering, a Germany-based company specializing in diagnostic solutions, digital surgical technologies and healthcare IT for clinical ophthalmology. Drawing on EssilorLuxottica’s long-standing expertise in the design and manufacture of advanced instruments and vision care solutions for eyecare professionals, this agreement represents a step forward in the Group’s strategy and its med-tech journey.

Founded by Dr. Gerhard Zinser and Christoph Schoess in 1990, Heidelberg Engineering brings extensive technological and scientific expertise in optical coherence tomography (OCT), real-time image processing and analytics, large-scale data analysis and digital surgical navigation, to serve medical professionals, scientists and researchers across a broad range of ophthalmic areas.

With a presence in over 100 countries, for more than three decades Heidelberg Engineering has been a reference in early detection of sight-threatening conditions such as glaucoma and age-related macular degeneration. As part of EssilorLuxottica, Heidelberg Engineering will continue to serve the market under their well-established brand, delivering the same solutions and expertise their customers have come to expect and trust.

“Heidelberg Engineering, renowned for its expertise in early detection and diagnosis, is a perfect fit for EssilorLuxottica as it will bolster our presence in the med-tech space. Heidelberg Engineering, with its commitment to research and development, rooted in excellence, shares our core values. By harnessing the full spectrum of our Group's capabilities in the optical industry, from logistics to manufacturing to global distribution, we are dedicated to fostering their long-term growth while enhancing the doctor and patient experience,” commented Francesco Milleri, Chairman and Chief Executive Officer, and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica.

"Innovation and quality have been key drivers for Heidelberg Engineering ever since Gerhard Zinser and I founded the company 35 years ago,” added Christoph Schoess, co-founder and Managing Director of Heidelberg Engineering. “Our mission has always been to develop products that provide comprehensive, accurate, and clinically relevant information to aid ophthalmologists in achieving better outcomes for their patients. Our future goals include enhancing image quality through higher resolution, expanding the applications of imaging technologies, and integrating AI solutions into the growing HEYEX Healthcare IT platform. We are delighted that EssilorLuxottica, a global leader in eyecare, embraces our vision for creating a shared care system spanning from research to home monitoring. Together, we are strongly positioned to significantly advance patient care and improve clinical outcomes.”

The transaction is expected to close in H2 2024 pending regulatory approvals and other customary closing conditions.

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