Beaver-Visitec International announced it has acquired Vitreq, a ophthalmic technology company. Terms of the transaction were not disclosed.
Headquartered in the Netherlands, Vitreq develops and manufactures products for the ophthalmic industry with a special focus on vitreoretinal surgery. Vitreq’s team of in-house R&D, engineering, and manufacturing professionals collaborate with renowned surgeons to create a portfolio of minimally-invasive instruments designed to match the demands of today’s surgical environment. Founded by a group of industry veterans, Vitreq’s management has more than 80 years of ophthalmic experience.
“At Vitreq, it’s our mission to develop reliable, safe, and sophisticated tools that provide surgeons with the support and innovation necessary to perform at the highest levels,” Frank Ruseler, CEO and cofounder of Vitreq, said in a company news release. “In BVI, we have found a partner that is committed to growing our organization, best positioning us to achieve our mission of becoming one of the leading vitreoretinal surgery platforms. The company continues to build a robust, high-quality ophthalmic portfolio that we are thrilled to become a part of. We look forward to working closely with Dana and the rest of the team to expand our product offering and footprint.”
BVI’s acquisition of Vitreq builds on a period of momentum for the company, beginning with an investment from TPG Capital last year. Since the partnership, BVI has made four key leadership appointments – including Dana G. Mead, Jr. as CEO – and two acquisitions that expand its growing portfolio.
“The Vitreq team has quickly established a trusted brand with vitreoretinal surgeons through their unique, customer-centric product development model. We are excited to combine our efforts with the goal of building a leading global vitreoretinal franchise under the Vitreq brand,” Dana G. Mead, Jr., President and CEO of BVI, said in the news release. “We welcome the Vitreq employees to the BVI team and look forward to delivering our combined portfolio of high quality, innovative products to an expanded group of customers worldwide.”