EssilorLuxottica Acquires Espansione Group, Provider of Noninvasive Ophthalmic Medical Devices

Optical giant EssilorLuxottica announced it is acquiring Italy-based Espansione Group, a provider of noninvasive medical devices for the diagnosis and treatment of dry eye, ocular surface and retinal diseases.

Financial terms of the deal were not disclosed. 

Espansione Group provides devices in more than 40 countries with photobiomodulation (PBM) technology called the Light Modulation Low-level Light Therapy (LLLT) for use in ophthalmology and dermatology, along with the Intense Pulsed Light (IPL) technology.

“We are pleased to welcome the pioneering Espansione into our group. This investment, proudly made in one of our home countries, will expand our portfolio of medical devices and solidify our role in the optical industry," Francesco Milleri, Chairman and CEO at EssilorLuxottica, said in a company news release. "EssilorLuxottica’s med-tech journey, aimed at elevating vision health standards, will continue to be an open and collaborative one, where our products and services are accessible to all industry players.”

The transaction is subject to local regulatory review and other customary closing conditions.