MidEuropa Announces Sale of Optegra to EssilorLuxottica
MidEuropa, a leading private equity investor with deep roots in Central Europe, today announces an agreement to sell Optegra, a leading European ophthalmology platform, to EssilorLuxottica, the global manufacturer and distributor of advanced vision care products, eyewear, and med-tech solutions. The sale is subject to customary anti-trust clearance and is expected to close later this year.
The Optegra group, under the Optegra, Lexum, and Iris brands, operates an extensive network of over 70 eye hospitals and diagnostic facilities across Europe, offering medically necessary ophthalmic treatments and elective vision correction procedures. Following MidEuropa’s acquisition of Optegra in 2023, the company expanded into two new markets – Slovakia, where it became the market leader, and the Netherlands – while also opening new greenfield clinics in the UK and completing eight add-on acquisitions across five countries.
Working closely with Optegra’s management team and drawing on the firm’s deep healthcare expertise, MidEuropa helped drive notable operational improvements. These included the deployment of an AI-driven assistant to streamline cataract referrals and pre-surgery assessments, while improving post-operative care. Through a successful M&A strategy, Optegra achieved a significantly stronger market position, while developing a solid platform to continue on its impressive growth trajectory.
Pawel Malicki, Partner at MidEuropa, commented: “This transaction marks the beginning of an exciting new chapter in Optegra’s evolution into a pan-European ophthalmology platform. Now backed by a global leader in vision care, the company is exceptionally well-positioned to further strengthen its leadership in the eye care space. We would like to thank the management team and the clinical staff for their dedication and ambition throughout this journey.”
Robert Knorr, Managing Partner at MidEuropa, commented: “Optegra’s evolution under MidEuropa’s ownership is a testament to the impressive capabilities we have developed in identifying and supporting European healthcare platforms with outstanding growth potential. We are proud of our close collaboration with Optegra’s talented leadership team to support the company’s rapid expansion, while deploying innovative AI technologies and digital solutions to deliver quality eye care and positive health outcomes for millions of individuals.
Dr. Peter Byloos, CEO of Optegra, added: “Joining forces with EssilorLuxottica marks a transformative chapter for Optegra. Their global leadership in vision care, combined with our clinical excellence and patient-centric approach, creates a unique platform to redefine ophthalmic services across Europe. This partnership not only accelerates our growth potential, but also enhances our ability to deliver innovative, digital, and integrated eye care solutions to all our patients. It also creates a significant opportunity for our clinical team, our staff, and leadership to be part of a global and inspiring leader in vision care.”
MidEuropa’s exit from Optegra follows a series of landmark exits in the healthcare sector for the firm this year, including the sale of Regina Maria Group to Mehiläinen and the successful IPO of Diagnostyka on the Warsaw Stock Exchange. As a result of the strong exit momentum across its portfolio, MidEuropa is pleased to report an expected record year of realised proceeds to its investors.
The transaction was executed by Eugeniu Prodan, David Nemcek, and Ivo Cavrak (legal). Advisers to MidEuropa included: Houlihan Lokey (financial adviser), White & Case (legal counsel), PricewaterhouseCoopers (financial and tax), and LEK and Mansfield Advisors (commercial).