Based out of Dunfermline, Scotland, Optos develops diagnostic and treatment devices for eye care professionals, with ultra-widefieldretinal imaging at the core of the business. With the move, Nikon, a near 100-year-old Japanese company best known for cameras, moves into the medical sector, which the company noted as being important for long-term growth.
"I am pleased to announce this strategically important transaction for Optos and Nikon," said Kazuo Ushida, President of Nikon. "I am confident that an Optos/Nikon combination would create a world class 'retina' player and would significantly benefit our respective stakeholders. Together, we will pursue various collaboration opportunities and further expand the medical business in the future."
Dr. Peter Fellner, Chairman of Optos, commented on the acquisition as well. "Following the Transaction, Optos will become a key part of Nikon's future strategy to develop a global medical business and will continue to provide its market leading solutions to the patients we serve. We are therefore pleased to recommend this acquisition to our shareholders."
Retinal imaging is a business that is on the rise due to aging populations, which puts more people at risk of developing age-related macular degeneration, a leading cause of blindness, according toReuters. Rising rates of diabetes and resulting eye complications have also increased demands for retinal monitoring, a service that is at the core of Optos’ business.
As of September 30, 2014, Optos generated revenue of approximately $170 million in the year, representing a share of just more than 30% of the market. With 72% of the revenue being generated by North America, Nikon’s global presence should provide growth opportunities in both Europe and Asia, according to Optos CEO Roy Davis.
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