Ophthalmology specialists - Carl Zeiss Meditec takes over DORC
The medical technology group Carl Zeiss Meditec wants to expand its range of ophthalmology services. To this end, the company has agreed to acquire the Dutch Ophthalmic Research Center (DORC), according to a press release published on Friday. The transaction has a value of 985 million euros. The purchase price is to be paid largely from existing net liquidity. As part of the financing, the company is also planning to take out a shareholder loan from Carl Zeiss AG for 400 million euros with a term of three years. The takeover is expected to be completed in the first half of 2024. The shares of the Jena-based company barely moved on the Tradegate trading platform after the close of trading.
With the acquisition, Carl Zeiss Meditec is expanding its business in the field of ophthalmology for a variety of eye complaints and diseases, including retinal diseases, cataracts and glaucoma. DORC, which specializes in eye surgery, expects annual sales of just under 200 million euros and an operating profit in the mid double-digit million euro range.
According to Carl Zeiss Meditec, the acquisition is expected to make a "modest positive contribution in the single-digit percentage range" to earnings per share in the first full financial year after completion of the takeover. The acquisition is subject to regulatory approval.
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- Germany's thriving ophthalmology industry has seen another significant development with Carl Zeiss Meditec's announcement to expand its operations in the field, following its agreement to acquire the Dutch Ophthalmic Research Center (DORC) based in Thuringia.
- Despite the high price tag of 985 million euros for the acquisition, Carl Zeiss Meditec's share price remained relatively unchanged on the Tradegate trading platform, highlighting the investors' confidence in the company's strategic move in the optics industry, particularly in Germany and the Netherlands.
- As Carlos Moedas, the CEO of Carl Zeiss Meditec, stated in the press release, the merger with DORC, which is renowned for its innovative eye surgery technology, will significantly enhance Carl Zeiss Meditec's portfolio in the realm of health and medical technology, particularly in the Netherlands and Jena.
Source: www.stern.de
