Rayner, CVC, and GBL announced that GBL will invest more than $500 million of equity to acquire a co-controlling minority stake in Rayner from CVC Capital Partners VIII.

Rayner’s portfolio of ophthalmic products includes monofocal and premium IOLs, ophthalmic consumables (including OMIDRIA and Ophteis OVDs), the SOPHI Phaco platform, and a suite of digital tools. Rayner is currently investigating a spiral IOL (Galaxy), designed to provide patients a smooth and continuous range of vision, with minimal side effects and no loss of transmitted light.

“This transaction marks an exciting milestone for Rayner,” said Tim Clover, CEO of Rayner. “Having recently invested significantly in our R&D, new products and multiple FDA approvals, alongside our manufacturing and support services, we are extremely well placed to embark on our next phase of growth with a world-class and highly supportive shareholder base. I’m delighted to welcome GBL to our board, and grateful that CVC are remaining alongside us as our lead investor.”

Rayner will continue to focus on driving growth and is expanding in North America with its recently approved EMV and EMV toric lenses, the Sophi Phaco machine, and the anticipated launch of Galaxy in Q4 2026, as well as international expansion in Asia and Latin America.

The transaction is expected to close in Q2 2026, subject to closing conditions and required regulatory approvals.