Lensar announced the acquisition of the laser business unit of Bloomington, Minnesota-based Precision Eye Services (PES). This acquisition consolidates the company’s customer base for greater optimization, efficiency, and speed to market, according to a company news release.
Financial terms of the acquisition were not disclosed.
Lensar and PES originally formed a commercial alliance in 2014, launching the mobile laser cataract service with the Lensar Laser System to surgeon-customers in the expanding laser refractive cataract market. Now, under Lensar’s ownership, the PES laser customer base will have direct access to not only the rapid evolution of Lensar’s technology – including the newly-launched Lensar Laser System with Streamline IV - but also the company’s sales, service and technical team.
“With Lensar’s strong growth and the continued development of our technology, it was the right time to bring these mobile laser operations under our umbrella,” Nicholas T. Curtis, CEO of Lensar, said in the news release. “Our relationship with PES has been key to providing more surgeons convenient and immediate access to Lensar’s first-in-class technology and this asset acquisition consolidates sales, and training to support and expand that effort.”
This acquisition is latest in a series of steps Lensar has completed as the company continues to pursue its goal of market leadership. Recent news includes receiving FDA clearance of the Lensar Laser System with Streamline IV and industry veteran William J. Link, PhD, joining the company as chairman of the board.
“This past year, we received the commitment and backing of PDL BioPharma, which has allowed Lensar to not only meet our business goals for the year, but build value for the future. Strategic acquisitions such as this make good business sense and supports continued growth and more surgeons gaining access to our first-in-class technology,” Mr. Curtis said.