Carl Zeiss Meditec Completes $1.06 Billion Acquisition of D.O.R.C. to Strengthen Global Ophthalmic Leadership

Apr 06, 2024 20:07 CST Updated 20:07

DORC

Ophthalmic Instrument R&D, Production, and Sales Provider

Carl Zeiss Meditec

Ophthalmic Implant Developer

Source | Instrument Family

Recently, Carl Zeiss Meditec announced the completion of its $1 billion acquisition of Dutch Ophthalmic Research Center B.V. (DORC).

The two parties initially announced the acquisition on December 15 last year. According to the agreement, Carl Zeiss MeditecWillFor a total price of 985 million euros (approximately 1.06 billion US dollars; 7.7 billion RMB),From French investment company EurazeoAcquisition of 100% Equity in Dutch Ophthalmic Research Center B.V. (DORC)。

ResourcesData shows that Dutch Ophthalmic Research Center B.V. (DORC) is a manufacturer specializing in the research, development, and provision of highly innovative ophthalmic products and solutions.Known for advanced technology and innovative products,InGlassCarl Zeiss Meditec AG holds the second-largest global market share in the vitreoretinal consumables field and is a leader in the dye market.

The product line covers ophthalmic surgical equipment, disposable supplies, and liquid products, which are widely used in the treatment of various ophthalmic diseases, including retinal diseases, cataracts, glaucoma, and refractive errors.

Among them,The most famous is the Eva Nexus phaco-vitrectomy machine with dual functionality, regarded as the core innovation of its product portfolio., including a full range of accessories, instruments, and fluids, providing top-tier solutions for vitreoretinal (VR) and combined cataract surgeries.

This acquisition is expected to bring more ophthalmic technologies and products to Carl Zeiss Meditec, facilitating the company's business expansion and innovation in the ophthalmology field.At the same time, it strengthens its position as the "fastest-growing ophthalmic medical device manufacturer" globally.

It can be seen that this is not just a merger and acquisition for product technology supplementation; more importantly, behind it lies...YesCarl Zeiss Meditec's Strong Expansion in the Global Ophthalmic Medical Device Market and Its Profound Impact on the Market

DORC has obtained 7 registration certificates

So, what impact will this acquisition have on the Chinese market?What profound impacts?

According to observations,DORC Multiple ModelsThe product has successfully entered the Chinese market and currently holds 7 registration certificates.

Among themEVA Innovative Phacoemulsification-VitreousThe integrated machine received NMPA approval for marketing in China by the end of 2022, and subsequently obtained TFDA approval for marketing in Taiwan by the end of 2023.Aimed at ophthalmic surgeons in China andPatients bring better safety and higher surgical efficiency, providing new options for retinal surgeons in China.

VisionBlue®, the trypan blue dye used for anterior capsule staining, has been on the global market for over 20 years with nearly 8 million units sold, and it is alsoEntered China at the beginning of 2023, it is the only trypan blue anterior capsule staining solution dually approved by the FDA and NMPA.For China's complexA large number of cataract patients and the difficult situation have provided a safe and effective solution.

In contrast, Carl Zeiss Meditec, which has been in China for 66 years,Gradually FormedA closed-loop industrial chain mainly focusing on high-end optical lenses and medical consumables,But its layout in therapeutic devices within niche fields is not yet complete. In recent years, the company has been aligning with future development trends such as digitalization, healthcare, and intelligent manufacturing to expand its presence and production.Product Combination.

Carl Zeiss Meditec stated that DORC's product technology is highly complementary to its own and aligns with its future strategic development plans. Through the acquisition of DORC,Carl Zeiss can expand its market share and brand influence in the Chinese market, strengthen its competitive advantage in the ophthalmology field, and promote the development and innovation of ophthalmic technology.

Upon the completion of this acquisition,The EVA NEXUS® platform will be integrated with ZEISS's wide range of visualization, diagnostic and therapeutic devices, surgical instruments, and consumables, connecting to a digital ecosystem.Will create efficient clinical workflows, reshape the ophthalmology market, and make...Benefits both doctors and patients.

On the other hand,In recent years, age-related eye diseases such as cataracts and diabetic retinopathy have continued to increase due to the aging population structure in China.According to data from the National Health Commission, in 2022, there were over 220 million cataract patients in China, with an incidence rate of 80% among the population aged 60-89.

As one of the top three blinding diseases globally, macular degeneration, a serious and often overlooked fundus disease in middle-aged and elderly individuals, although not highly prevalent in the general population, has a significant impact.Due to China's large population base, the current number of patients has reached nearly 30 million.

Among the treatment methods for these common fundus diseases,Vitreoretinal surgery is an effective solution.Carl Zeiss Meditec, as a leading company in the ophthalmology sector, is expected to gain more opportunities in this rapidly growing field through this acquisition.

Vitreoretinal Consumables Market Share Ranks Second Globally

DORC, founded in 1983 and headquartered in the Netherlands, is one of the world's leading suppliers of ophthalmic surgical equipment, instruments, and liquids.The company is committed to providing products including various ophthalmology-related surgical equipment, surgical instruments, and technologies, such as various types of surgical forceps, vitrectomy kits, and surgical solutions.

The company focused on the development of ophthalmic instruments in its early days. At that time, Ger Vijfvinkel, who had extensive experience in instrument manufacturing, found his passion in ophthalmic surgery. In order to develop new instruments, he carefully observed surgical procedures, communicated with surgeons, and collaborated to solve problems. This marked the establishment of DORC.

Until now, DORC's instruments have been widely recognized and loved by industry experts, among which...The most famous is the Eva Nexus phaco-vitrectomy machine with dual functionality, considered the core innovation of its product portfolio.

Eva Nexus Phaco-Vitrectomy Machine

Eva Nexus Phaco-Vitrectomy Machine is a wearable ophthalmic medical device, mainly used for cataract, retina, and vitreous disease surgeries.Applicable to patients with various types of cataracts, diabetic retinopathy, retinal detachment, endophthalmitis, severe ocular trauma, retinal folds (macular folds), macular holes, etc., aiming to improve surgical efficiency.

Its appearance is similar to that of ordinary glasses, equipped with a high-resolution camera and sensors, and featuring a small built-in computer.During the examination, the patient only needs to wear this device and does not require any medication or surgical treatment.DORC has introduced several innovative technologies in the Eva Nexus, including:

Smart IOP Technology, a highly responsive infusion system for cataract surgery,Enables surgeons to work at lower infusion pressures while maintaining a stable anterior chamber even in complex cases. When this technology is combined with existing dynamic flow and EquiPhaco technology, it improves the efficiency of phacoemulsification energy and effectively reduces phacoemulsification time.
Eva Aveta is an innovative puncture catheter system,For use with Eva Nexus and existing Eva systems. In ophthalmic surgery, used to guide and deliver drugs, fluids, or gases to specific areas of the eye to accomplish particular therapeutic or surgical steps. Since its initial launch, surgeons have reported improved wound closure and significantly enhanced performance.
Eva Inicio is the first approved micro-injection system,Specifically designed for precise control of injections below 1 milliliter, with excellent ±1psi control, equipped with a compatible catheter system for subretinal injections.

In addition,Eva Nexus has independent liquid delivery channels for anterior chamber surgery and posterior chamber surgery.Capable of seamless switching during cataract and vitrectomy surgeries. It also features a range of ergonomic and user-enhanced functions, including active monitoring of BSS levels, vertically and horizontally adjustable monitors, digital overlays, and a foot pedal for system repositioning.

Anterior and Posterior Segment Staining Agent Series

DORC's series of anterior and posterior segment dyes, as well as its complete range of silicone oil, gas, and heavy water products, are also a major highlight.Point.Among them, VisionBlue® can stain and/or identify the anterior capsule of the lens during surgery, ensuring a complete circular capsulorhexis, thereby guaranteeing the phacoemulsification surgery.Safety. With high purity and enhanced safety, it can even be directly injected into the anterior chamber.In DyeingColor Rapid Easy OperationWhile significantly improving the safety of the surgery,Widely recognized in cataract surgeries across Europe and America over the past 20 years.。

DORC Instruments

DORC's instruments have long been well-known and beloved by industry experts. Several star instrument products, such as the end-gripping internal limiting membrane forceps for highly myopic patients, the dual overhead lamp illumination optical fiber that allows ophthalmologists to free their hands, and the 27G TDC ultra-short vitrectomy suite for microphthalmia patients, are all excellent tools that assist retina surgeons in performing surgeries.

Carl Zeiss: A Century-Old Giant

Carl Zeiss, founded in 1846, is a German company that manufactures optical systems, industrial measuring instruments, and medical devices.Medical Series, Binoculars, Camera Lenses, Magnifiers, Glasses, Planetarium...in the field of optical equipment, gaining fame overseas. By the time...Today, with a glorious history of 170 years, its business spans approximatelyAcross 50 countries, with over 43,000 employees in more than 30 production bases globally, over 60 sales and service locations, and 30 research and development institutions.

In 1846, Carl Zeiss founded a precision mechanics and optical instruments workshop in Jena, Germany, and began microscope production in 1847.And maintained a period of prosperity for quite a long time, this workshop was the predecessor of Carl Zeiss Meditec AG.

In 1866, the other founder of Carl Zeiss, physicist and mathematician Ernst Abbe (Ernst Abbe)) to join, injecting powerful technical capabilities into Carl Zeiss Meditec.

In 1872, Abbe's microscope imaging theory brought revolutionary developments and laid the foundation for all high-performance optics of mankind.Carl Zeiss has gained worldwide recognition with its leading technology and quickly grown into a global leader in the optical field.

In 1875, Ernst Abbe and Carl Zeiss jointly became the owners of the company, and in the same year, they implemented health insurance for employees.Risk Plan.

In 1896, Ernst Abbe established the foundation's charter, ensuring through the foundation's management of the company that profits were invested in R&D to maintain the company’s long-term focus on scientific and technological goals.The articles of association also legally guaranteed employees a minimum wage, bonus income, and paid annual leave. Meanwhile, the Zeiss factory was one of the few German companies in the world at that time to establish an eight-hour workday system.

Scientific management gave Carl Zeiss wings to soar. By 1900, Carl Zeiss had developed into the world's leading optical company, and in 1901, it established its first overseas branch in London.Starting from external branches, the business has spread all over the world.

In 1890, the Optical Instrument Measurement Department was established, starting with the refractometers and spectrometers previously developed by Abbe. This led to the development of a large number of more advanced instruments, which were widely used in the food industry and medical field. After 1920, the instruments were also extensively applied in the metallurgical and metal processing industries. The department also produced rangefinders and instruments for photogrammetry. In the same year,The photographic optics department was established, and in the same year, the first camera optical lens was launched into the market.

From 1908 to 1912, influenced by Swedish doctor Allvar Gullstrand, Zeiss shifted its focus to the development of glasses and ophthalmic measuring instruments.Since 1908, geodetic instruments have further expanded the production scope of the Jena company, with production facilities and factories continuously growing.

In 1914, the outbreak of World War I temporarily interrupted Zeiss's development and production of civilian instruments, with only the astronomy division able to construct Europe's largest reflecting telescope at the time for the Potsdam-Babelsberg Observatory.

After the end of World War I,Following Germany's defeat and the restrictions on arms production imposed by the Treaty of Versailles, Zeiss turned its attention to precision measurement, and a precision measurement department was soon established.

In 1945,The Flames of World War IISpread over, the U.S. Army occupied the Jena plant, requisitioned patents, documents, and specialized production equipment, and relocated top-notch skilled workers to Heidenheim in the west.

In 1946, the Soviet occupying forces dismantled all production equipment from the Jena plant, relocating scientists, engineers, and specialists.The technicians were brought to the Soviet Union, and the industrial assets of the Carl Zeiss Foundation were nationalized by the Soviet Union in 1948.

After World War II, Germany's forced division also split Carl Zeiss into two: one part in West Germany and the other in East Germany.

In the 1950s, both Zeiss companies not only resumed the production of their traditional products, but also their scientists and design engineers focused on the research and development of new fields. Various electron microscopes were introduced, and Jena built a nuclear track microscope for the nuclear energy research institute near Moscow. Both companies restarted the production of large astronomical instruments.

Jena's astronomical department built planetariums and two-meter-high telescopes for the observatories in Tautenburg and Hamburg.

Oberkochen produced a 150mm Coudé refractometer and a 650mm refractor in the 1950s.

In 1964, lasers were first put into industrial use, and the first industrialized electron beam lithography system appeared in the mid-1970s.

In 1965, Carl Zeiss Jena Public Enterprise became the primary production enterprise for precision machinery and optical products in East Germany.

In 1971, the two companies signed the London Agreement, which adjusted the use of names and trademarks containing the "Zeiss" element.

In 1989, due to the political upheaval in East Germany, Carl Zeiss Jena Public Enterprise was dissolved.

Although the two Zeiss companies were divided due to political reasons, they both developed into leaders of optical technology in their respective halves and became competitors in the German and international markets.After the 1960s, the achievements in electronics and information technology increased steadily. Significant progress was made in space research and microelectronics, providing new development prospects for the field of optical instrument design.Jena and Oberkochen are both committed to the integration of optics, precision mechanics, and electronic principles,Products with entirely new performance for the world.

In 1998, Carl Zeiss had become a world-renowned optical leader in the field of high-performance lenses for microscopes, industrial measurement, microchip manufacturing, surgical microscopes, and ophthalmic diagnostic and treatment equipment.

In 2000, the Carl Zeiss team consolidated its original 26 subfields into four growth markets:Semiconductor technology and microelectronics, life sciences, vision care, and industrial measurement.In the same year, Carl Zeiss began to focus on leading future semiconductor technologies and established a new, most modern lithography system factory in Europe in Oberkochen.

Establishment of Carl Zeiss Meditec

Carl Zeiss Meditec, a medical technology company established in 2002,Products and solutions specifically designed for ophthalmology, neurosurgery, otolaryngology, spinal surgery, dentistry, and oncology.

In the field of ophthalmology, Carl Zeiss Meditec provides comprehensive cataract and intraocular lens solutions for ophthalmologists, aiming to achieve the best visualization in microscopic surgery.Products include advanced surgical microscopes and ophthalmic equipment to support the accuracy and success rate of ophthalmic surgeries.

In fields such as neurosurgery, otolaryngology, spinal surgery, and dentistry, Carl Zeiss Meditec's surgical microscopes and medical dental loupes provide doctors with precise observation and operation tools.These devices, combined with advanced optical technology, support doctors in achieving better outcomes in complex surgeries.

In addition, Carl Zeiss Meditec also provides intraoperative radiotherapy systems.The company provides efficient workflows for medical practice and hospitals by introducing advanced imaging technology and software-assisted data management systems. This innovation enables doctors to perform more precise operations in diagnosis and treatment, offering patients higher quality medical services.

Global Ophthalmology Growth Rate Ranked First

This acquisition is a significant strategic move by Carl Zeiss Meditec following its fiscal year revenue of 2.089 billion euros, and represents an important expansion in the global ophthalmic medical device market.

Financial report data shows that Carl Zeiss Meditec achieved a revenue of 2.089 billion euros (approximately 16.2 billion RMB) in 2023, compared to 1.903 billion euros in the same period last year, representing a growth of 9.8% (after adjusting for currency effects: +10.1%).Is the fastest-growing ophthalmic medical device manufacturer globally.

Among them, the revenue of the Ophthalmology strategic business unit increased by 7.3%, reaching 1.576 billion euros (approximately 12.2 billion RMB); the revenue of the Microsurgery strategic business unit increased by 18.3%, reaching 513 million euros (approximately 4 billion RMB).

Carl Zeiss MeditecIt is expected that,This acquisition will enhance and complement its extensive ophthalmic product portfolio and digital solutions.Increase its market share in posterior segment surgeries (such as vitreoretinal surgery) while strengthening its position as the globally "fastest-growing ophthalmic medical device manufacturer."In this regard, the Medical Device Family will continue to follow up.

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