EssilorLuxottica signs agreement to acquire Espansione Group

EssilorLuxottica, a prominent player in the optical industry, has recently announced an agreement to acquire the Italian med-tech company Espansione Group. This acquisition is a strategic move to strengthen EssilorLuxottica's presence in the high-quality vision care and medical technology markets. Espansione Group is renowned for its innovative, patent-protected medical devices that focus on non-invasive treatments primarily for eye-related conditions such as dry-eye, ocular surface, and retinal diseases. It operates in over 40 countries and utilizes advanced technologies like Light Modulation Low-level Light Therapy (LLLT) and Intense Pulsed Light (IPL) techniques. The acquisition aligns with EssilorLuxottica's broader strategy to elevate industry standards and improve patient care. According to Francesco Milleri, CEO of EssilorLuxottica, the deal will enrich their portfolio and solidify their role in the optical industry, emphasizing an open and collaborative approach. The completion of this transaction is pending regulatory reviews and other standard closing conditions.