EssilorLuxottica to Acquire Espansione Group for Med-Tech Expansion
EssilorLuxottica has signed an agreement to acquire Espansione Group, an Italian company specializing in medical devices for diagnosing and treating eye conditions. The acquisition aims to bolster EssilorLuxottica's presence in the med-tech sector.
EssilorLuxottica announced on December 16, 2024, that it has entered into an agreement to acquire Espansione Group, an Italy-based company focused on medical devices.
Espansione Group designs and manufactures non-invasive medical devices for the diagnosis and treatment of conditions such as dry eye, ocular surface diseases, and retinal diseases. The company utilizes technologies like photobiomodulation (PBM) and Intense Pulsed Light (IPL), holding international patents for its innovations.
The acquisition represents a strategic move for EssilorLuxottica to expand its footprint in the medical technology space. The company stated that this aligns with its strategy to elevate industry standards and improve patient care solutions.
Francesco Milleri, Chairman and CEO of EssilorLuxottica, commented that the acquisition "will expand our portfolio of medical devices and solidify our role in the optical industry." The transaction is subject to regulatory review and other customary closing conditions.