Optos plc (LON:OPTS) agreed to pay $17.5 million plus royalties for Opko Health Inc.’s (NYSE:OPK) ophthalmic instruments operation.
Miami-based Opko Health said the deal is for its “worldwide activities for the development and commercialization of ophthalmic diagnostic imaging systems,” according to a press release. The plan is to integrate Opko’s OCT SLO device into Optos’ widefield technology, according to the release.
“We believe that the instrumentation business and OCT SLO technology have strong potential that will benefit greatly from the synergies provided as part of a large and successful ophthalmic focused instrumentation company,” Opko CEO Dr. Phillip Frost said in prepared remarks. “We have great confidence that our instrumentation business will grow and prosper as part of Optos.”
Last month Optos shares gained more than 6 percent after the company announced that the FDA granted 510(k) clearance in the U.S. for its Project Daytona retinal scanning device. Shares closed at £1.44 today on the London Stock Exchange, down 6.2 percent.
In November, the company offered $15 million for Australia’s Opto Global Holdings Pty. Ltd.