Hoya Surgical Optics (HSO) announced a new joint venture with GeMax, a specialty promotion service provider of IOLs with a strong market position and reputation in China, covering more than 630 major hospitals in 32 provinces. The joint venture will be named Hoya GeMax Medical. HSO will be the majority shareholder.
“We’re very excited to embark on this journey with GeMax. We have worked together for more than a decade and this next step will help take our business to new heights in China,” Mads Bjerre Andersen, Vice President Global Sales of HSO, said in a company news release.
The ophthalmology industry is changing at tremendous speed. Change is being driven by aging populations and, given the sheer size of China, cataract and cataract blindness is a major public health issue. Change is also occurring due to rapid infrastructure development in key markets, like China, allowing more access to people in need of cataract surgery.
“This venture will allow us to be a stronger partner and meet the growing needs in China, a market of strategic importance to our organizations” said John Goltermann Lassen, CEO of Hoya Surgical Optics.
Joining forces will help Hoya accelerate commercial success by combining sales and distribution from both companies into one unified business, according to a company news release. It will also allow the entire HSO portfolio of IOLs, across the AF-1 and Vivinex platforms, to be more broadly available to surgeons and patients in China.
“This is a natural progression given the strong partnership and mutual trust between our organizations and we’re looking forward to strengthening our position in China together” said Xia Xintao, General Manager of Gemax.
The official signing ceremony took place January 16, 2020 and the deal is expected to close by end of March 2020.