Hoya Surgical Optics announced that it has completed the acquisition of medical device companies Mid Labs and Fritz Ruck. Mid Labs is a California-based company focused on the research, innovation, development, engineering and manufacturing of ophthalmic medical surgical devices used to prevent blindness caused by certain retinal diseases and traumatic injuries. Fritz Ruck is based in Eschweiler, Germany, and manufactures dual-function phaco machines and accessories and distributes other ophthalmic devices and instruments.
This acquisition will help to broaden Hoya Surgical Optics’ product portfolio and enable Hoya to better serve its customers’ broader needs for high quality ophthalmic products, equipment and services. Through this, Hoya Surgical Optics aims to accelerate the growth of IOL sales and further solidify accelerating the growth of IOL sales and further solidify its position as the fastest growing IOL company globally.
The acquisition also provides an opportunity for Hoya Surgical Optics to enter the global retinal market and continue its expansion beyond the current cataract market. With the growing elderly population worldwide and the improving healthcare infrastructure in developing countries, retinal disease treatment is expected to grow at higher rates in the future. Hoya Surgical Optics will be able to leverage Mid Lab’s best-in-class vitrectomy cutters, machines, and other vitreoretinal surgical products.
Hoya Surgical Optics announced a definitive agreement to acquire Mid Labs and Fritz Ruck in October 2018.