Optical lenses maker Carl Zeiss Meditec (ETR:AFX) paid $70 million to acquire 100% of the assets of intraocular lens manufacturer Aaren Scientific, the companies announced this week.
The move is designed to give Zeiss a wider IOL portfolio that will allow the company to provide ophthalmic surgeons with tailored products, Zeiss Meditec president & CEO Dr. Ludwin Monz said in prepared remarks.
California-based Aaren Scientific reported about $20 million in revenue in 2012, and the company employees some 235 people. Aaren was the 1st IOL manufacturer to land CE Mark registration, according to a company statement.
Zeiss will integrate Aaren into its Surgical Ophthalmology unit, complementing IOL development and manufacturing efforts that already exist in Germany and France.
Zeiss had a pretty flat day on Wall Street yesterday, closing at $23.10, a 0.4% boost on the day. AFX shares have dropped about 5% since the start of the year.
