Bausch + Lomb, the global eye health company, today announced it has acquired 100 percent of the outstanding shares of Laboratorio Pfortner Cornealent SACIF, the controlling entity of Waicon. Waicon is the Argentinean market leader in contact lenses and lens care products. As a result of this combination, Bausch + Lomb will be the leading eye health company in Argentina. The Pfortner family will continue to operate their retail chain of optical shops under the brand name "Pfortner" and as an independent company, unrelated to Bausch + Lomb.
While Bausch + Lomb plans to combine Waicon with its Vision Care operations in Argentina, the businesses will continue to operate separately as the companies proceed through the integration process. For the time being, Carina Tarzia will continue as Argentina Country Manager for Bausch + Lomb and Maximo Pfortner will continue as the General Manager of the Waicon business. Tomas Pfortner, founder of Waicon and a globally recognized opinion leader in the eye health field, will serve as Special Scientific Advisor to Bausch + Lomb. Pfortner 's retail division will continue to operate as an independent company unrelated to Bausch + Lomb.
"Waicon is an excellent strategic fit for Bausch + Lomb, with complementary offerings, a long-standing and trusted brand, a rich heritage and a shared commitment to customer service," said Mariano Garcia-Valino, EVP and President, Bausch + Lomb Latin America. "Together, we will create the most innovative and comprehensive eye health portfolio in Argentina, offering eye care professionals and patients unprecedented choice when it comes to meeting their needs."
With broad channel coverage and direct distribution capabilities, Waicon will deepen Bausch + Lomb's customer access and accelerate its business expansion in this growing market. Likewise, by investing in innovative new technologies, Bausch + Lomb will maximize the value of Waicon's existing products, while unlocking a pipeline of new products for the Argentinean market.
"The combination of our businesses offers new opportunities for Waicon and those who use our products, to benefit from Bausch + Lomb's innovation, breadth of eye health offerings and global scale," said Tomas Pfortner. "We are proud to be combining our strong business with Bausch + Lomb."
"Bausch + Lomb is committed to growth and innovation in Latin America, and together with Waicon, we will continue to deliver excellent products and bring innovative, industry-changing eye health solutions to market," said Sheila Hopkins, Global President, Vision Care, Bausch + Lomb.
The terms of the agreement were not disclosed.
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