Tokyo: Nikon, the 98-year-old Japanese company best known for its cameras, has acquired British retinal imaging company Optos for $400 million (£259 million) in cash. With this buy, Nikon will leverage its optical imaging expertise in the medical sector. Nikon will pay 340 pence a share in cash for Optos, a 30.5 per cent premium to the closing price on February 26, 2015.
Nikon's acquisition of Optos requires the approval of Optos shareholders, as well as court approval and anti-trust approvals and clearances. The deal is expected to close in Q2 of 2015. Following the transaction, Optos will become a key part of Nikon's future strategy to develop a global medical business and will provide leading solutions to the medical optical device market.
Scotland-based Optos is the market leader in retinal imaging and its ultra wide-field technology produces images that cover more than 80 percent of the retina, which is claimed to be greater than any other device.
Optos is also said to be the market leader in retinal imaging by sales, with a share of approximately 30 percent, and also Optos has a strong presence in North America, where it generates 72 percent of its revenue. Optos generated revenue of around $170 million in the year to Sept. 30, 2014 and operating profit before exceptional items of approximately $16 million.
