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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.”
“We are excited to embark on this new chapter alongside EssilorLuxottica,” note Alessandro Fier, Luca Trimigno and Matteo Corbellino, Management Team of Espansione Group, who will join EssilorLuxottica.
“Their dedication to technological advancement and shared entrepreneurial values make this a natural continuation step to fulfil Espansione Group's ambitions. Together, we look forward to seizing new opportunities to enhance the quality of life for patients and contribute to the global healthcare community.”
The transaction is subject to local regulatory review and other customary closing conditions.
About EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. With over200,000 employees across 150 countries, 650 operations facilities and 18,000 stores, in 2023 the Company generated consolidated revenue of Euro 25.4 billion.
Its mission is to help people around the world to see more and be more by addressing their evolving vision needs and personal style aspirations. EssilorLuxottica is home to the most advanced lens technologies including Varilux, Stellest and Transitions, the most iconic eyewear brands including Ray-Ban and Oakley, the most desired luxury licensed brands and world-class retailers including LensCrafters and Sunglass Hut.
The Company’s OneSight EssilorLuxottica Foundation has given access to sustainable vision care to more than 760 million people in underserved communities. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.
EssilorLuxottica Press Contacts
Giorgio Iannella
Head of Investor Relations
ir@essilorluxottica.com
Marco Catalani
Head of Corporate Communications
media@essilorluxottica.com
About Espansione Group
Espansione Group is a pioneer in the medtech industry, on a mission to develop and market innovative, non-invasive solutions for prevention and management of conditions in ophthalmology and beyond.
The company’s certified medical solutions leverage proprietary technologies such as Light Modulation™ Low-level Light Therapy (LM™ LLLT) photobiomodulation (PBM), with an ambition to redefine standards of care by expanding on their applications, with a constant commitment to science, research and development, and customer excellence.
Strategic partnerships with the industry, a strong commitment to scientific excellence and a will to shape the future have enabled Espansione Group’s advanced medical technologies to be present in over 50 countries, serving thousands healthcare providers worldwide.
Espansione Group Press Office
press@espansione.it
© 2024 Espansione Group, All Rights Reserved
Posted on December 16th, 2024 in Newsroom