The Lions Eye Institute for Transplant & Research (LEITR) announced the acquisition of International Sight Restoration (ISR) in Tampa to double its size, creating one of the largest eye banks and distributers of corneas in the world. With the acquisition, LEITR increases its ocular tissue distribution network to about 80 countries.
Terms of the deal were not disclosed.
“This deal will bring sight to more people around the world because of Lions Eye Institute’s large donation pool combined with ISR’s vast distribution network,” LEITR CEO Jason K. Woody said in a company news release. “Additionally, surgeons and patients in the United States and internationally will benefit from our combined technological resources.”
With the acquisition, LEITR becomes one of Tampa’s most international companies and the size of the merger contributes to a burgeoning life sciences industry in the city. LEITR now has offices across Florida, in Louisiana and in Mexico. The deal has been in the process for about 6 months.
Already one of the largest combined eye banks and research centers in the United States, Lions Eye Institute’s new international distribution network positions the company to take advantage of consolidation trends to increase efficiency and improve outcomes for corneal transplant patients.
“The LEI/ISR deal is a representation of the future of our industry,” said ISR CEO Christina Sanchez Miller. “Corneal surgeries and medical technologies are advancing at a rapid pace, and through this partnership we will be uniquely able to meet the needs of surgeons and patients worldwide.”