EssilorLuxottica announces agreement for acquisition of Espansione Group
Espansione Group's Light Modulation Low-level Light Therapy (LLLT) is used in ophthalmology and dermatology
The transaction is subject to local regulatory review, EssilorLuxottica said. Image credit: ©kamiphotos – stock.adobe.com
EssilorLuxottica has entered an agreement for the acquisition of Espansione Group.
Espansione Group, based in Italy, specialises 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 known for photobiomodulation (PBM) technology – the Light Modulation Low-level Light Therapy (LLLT), which is used in ophthalmology and dermatology, along with the Intense Pulsed Light (IPL) technology.1
For EssilorLuxottica, this agreement marks a further step into the med-tech space, and it is consistent with the Group’s strategy to elevate industry standards and improve the quality of patient care solutions, the company said in a press release.1
Francesco Milleri, Chairman and Chief Executive Officer at EssilorLuxottica, commented on this agreement in the company’s press release.1 He said, “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.”
This transaction is subject to local regulatory review and other customary closing conditions.
