Carl Zeiss Meditec acquires 100% of shares in Aaren Scientific

Carl Zeiss Meditec AG announces it has acquired, through its subsidiary Carl Zeiss Meditec Inc., 100% of the shares in Aaren Scientific Inc., a US-based manufacturer of intraocular lenses (IOLs). Aaren Scientific, headquartered in Ontario, California, has been manufacturing IOLs for more than two decades. The majority of shares in Aaren Scientific had previously been owned by a private investment company as well as other investors, including the CEO and co-founder of Aaren Scientific, Rick Aguilera, who along with the entire management team will stay on board after the transaction.

"The two companies, ZEISS and Aaren Scientific, are highly complementary and enable ZEISS to offer ophthalmic surgeons a broader portfolio of solutions," says Dr. Ludwin Monz, member of the Executive Board of ZEISS AG and President and CEO of Carl Zeiss Meditec AG. "By giving our customers a wider range of IOL choices than any other company, we will be in a position to provide them with tailored solutions for their patients."

Aaren Scientific was the first manufacturer of IOLs in the US to receive a CE registration and is well known for its innovative R&D capabilities. The company currently has 235 employees. In 2012, Aaren Scientific achieved total revenues of approximately USD 20m, primarily generated outside of the US. The company will be integrated into the Strategic Business Unit (SBU) Surgical Ophthalmology of Carl Zeiss Meditec and complements the existing ZEISS IOL development and manufacturing sites in Berlin, Germany and La Rochelle, France. The SBU Surgical Ophthalmology has continuously reported above market growth rates for the last 3-4 years driven by strong demand for innovative IOLs.

Rick Aguilera says: "Aaren's world-class line of intraocular lenses perfectly augments ZEISS' renowned ophthalmic diagnostic and surgical product portfolio. This is an excellent and sensible partnership for both companies and we encourage all involved to view this as we do - a major turning point in our companies."

Insertion of an intraocular lens after cataract surgery is the most commonly performed ophthalmic surgical procedure. While the vast majority of IOLs implanted to treat cataracts are monofocal lenses, ZEISS has significantly shaped the market with its multifocal intraocular lenses. The most recent addition to the portfolio of multifocal lenses, which offer excellent vision at near, intermediate and long distances, the AT LISA tri toric, is the only lens of its kind to bear a CE mark. ZEISS offers cataract surgeons a complete integrated solution to treat cataracts from diagnosis to surgery and aftercare. About 70 percent of all cataract patients come in contact with a ZEISS product.