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CooperVision Adds SynergEyes to Expand Specialty Contact Lens Adoption in North America

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CooperVision has integrated SynergEyes into its Specialty EyeCare unit, enhancing its specialty contact lens offerings. This partnership aims to improve treatment options for conditions like keratoconus and irregular corneas in North America and worldwide. The transition of SynergEyes' manufacturing to CooperVision's facility in Gilbert, Arizona is expected to begin in 2023. SynergEyes' hybrid lens products complement CooperVision's existing Onefit scleral lenses. The collaboration is anticipated to provide eye care practitioners with diverse options and advanced technologies for better patient care.

Positive
  • Enhanced specialty contact lens portfolio through SynergEyes acquisition.
  • Broader treatment options for keratoconus and irregular cornea.
  • Transition of manufacturing to new facility could improve production efficiency.
Negative
  • None.

Hybrid Lens Technology Complements Onefit Scleral Lenses to Provide Full Continuum of Care for Irregular Cornea and Keratoconus

SAN RAMON, Calif., Nov. 3, 2022 /PRNewswire/ -- Deepening its commitment to expand specialty contact lens adoption in North America and worldwide, CooperVision has added SynergEyes to its CooperVision Specialty EyeCare business unit. The Carlsbad, Calif.-based company is widely known for hybrid lens technologies and brands, which span the treatment of irregular cornea, presbyopia, and astigmatism.

This development broadens CooperVision's already extensive range of products and services. The addition creates a complete portfolio for the treatment of keratoconus and irregular cornea in North America and beyond, plus substantial opportunities to advance care for other common ocular conditions.

"Eye care practitioners are searching for ways to differentiate themselves, with a growing number embracing specialty contact lenses for their clinical and business advantages. Combining these two specialty segment experts provides a full range of options which delivers a continuum of care for keratoconus," said Juan Carlos Aragón, OD, President, CooperVision Specialty EyeCare. "SynergEyes offers a broad range of specialty contact lenses, including proprietary hybrid lenses, complementing our popular Onefit scleral lenses. Customers should quickly benefit from the blend of CooperVision and SynergEyes products, technologies, support services, and people."

Since the first generation of SynergEyes hybrid lenses came to market in 2005, the company has continued to improve the multifaceted technologies required for success. Its brands include Duette®, UltraHealth®, and SynergEyes® iD Single Vision and Multifocal EDOF, as well as SynergEyes VS™ scleral lenses.

Over the next few years, manufacturing of SynergEyes products and materials will transition to CooperVision Specialty EyeCare's recently opened production center in Gilbert, Ariz. GP Specialists, whom CooperVision acquired in 2021, has shared plans to move into that facility in 2023.

SynergEyes CEO Bob Ferrigno will serve as a consultant with the organization through early 2023 to assist with the transition. Louise Sclafani, OD, FAAO, FSLS, Vice President of Professional Affairs for SynergEyes, will join the CooperVision Specialty EyeCare Americas team.

CooperVision Specialty EyeCare develops, manufactures, and provides access to an unmatched portfolio of industry-leading soft and custom rigid gas permeable lens designs, including orthokeratology and scleral lenses to address segments such as myopia management, irregular cornea, and presbyopia management. The group's brands include Blanchard, EnsEyes, GP Specialists, No7 Contact Lenses, Paragon, Procornea, and Soflex.

SynergEyes customers should continue to work with their current representatives. Terms of the transaction were not disclosed.

About CooperVision

CooperVision, a division of CooperCompanies (NYSE:COO), is one of the world's leading manufacturers of contact lenses. The company produces a full array of daily disposable, two-week and monthly soft contact lenses that feature advanced materials and optics, and premium rigid gas permeable lenses for orthokeratology and scleral designs. CooperVision has a strong heritage of addressing the toughest vision challenges such as astigmatism, presbyopia, childhood myopia, and highly irregular corneas; and offers the most complete portfolio of spherical, toric and multifocal products available. Through a combination of innovative products and focused practitioner support, the company brings a refreshing perspective to the marketplace, creating real advantages for customers and wearers. For more information, visit www.coopervision.com.

About CooperCompanies

CooperCompanies ("Cooper") is a global medical device company publicly traded on the NYSE (NYSE:COO). Cooper operates through two business units, CooperVision and CooperSurgical. CooperVision brings a refreshing perspective on vision care with a commitment to developing a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical is committed to advancing the health of women, babies and families with its diversified portfolio of products and services focusing on medical devices and fertility & genomics. Headquartered in San Ramon, Calif., Cooper has a workforce of roughly 14,000 with products sold in over 100 countries. For more information, please visit www.coopercos.com.

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mike@mcdougallpr.com or +1-585-434-2150

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SOURCE CooperVision

FAQ

What is the impact of CooperVision's acquisition of SynergEyes on the stock symbol COO?

The acquisition enhances CooperVision's specialty contact lens offerings, potentially leading to increased market share and revenue growth for COO.

When will SynergEyes' manufacturing transition to CooperVision's facility occur?

The transition of SynergEyes' manufacturing to CooperVision's Gilbert, Arizona facility is expected to begin in 2023.

What are the benefits of the SynergEyes and CooperVision partnership?

The partnership provides a complete portfolio for treating keratoconus, offering eye care practitioners a wider range of products and technologies.

How does this acquisition align with CooperCompanies' business strategy?

This acquisition supports CooperCompanies' strategy to expand its specialty lens market and enhance treatment options in vision care.

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