Acquisition Of Mid Labs And Fritz Ruck

HOYA Surgical Optics (“HSO”), the intraocular lens and related products division of HOYA Group, today announced that it has completed the acquisition of medical device companies Mid Labs and Fritz Ruck. Mid Labs is a California-based company focused on the research, innovation, development, engineering and manufacturing of ophthalmic medical surgical devices used to prevent blindness caused by certain retinal diseases and traumatic injuries. Fritz Ruck is based in Eschweiler, Germany, and manufactures dual function phacoemulsification machines and accessories as well distributes other ophthalmic devices and instruments.

This acquisition will help to broaden HOYA Surgical Optics’ product portfolio and enable HSO to better serve its customers’ broader needs for high quality ophthalmic products, equipment and services. Through this, HOYA Surgical Optics aims to accelerate the growth of IOL sales and further solidify its position as the fastest growing IOL company globally.

The acquisition also provides an opportunity for HOYA Surgical Optics to enter the global retinal market and continue its expansion beyond the current cataract market. With the growing elderly population worldwide and the improving healthcare infrastructure in developing countries, retinal disease treatment is expected to grow at higher rates in the future. HOYA Surgical Optics will be able to leverage Mid Lab’s best-in-class vitrectomy cutters, machines and other vitreoretinal surgical products.

Dual function phacoemulsification machines and accessories are a type of surgical equipment used in cataract surgery. Phacoemulsification is a technique for removing cataracts, in which a small ultrasonic probe is used to break up the cloudy lens of the eye and suction it out through a small incision. Dual function machines and accessories typically have the ability to switch between two different modes of operation, such as "aspiration" and "vacuum."