CooperVision (NYSE:COO) announced that it acquired customized orthokeratology contact lens manufacturer and distributor GP Specialists for an undisclosed amount.
San Ramon, Calif.-based CooperVision said in a news release that the acquisition expands its specialty eye care business and its leadership in addressing myopia.
GP Specialists’ portfolio of ortho-k lenses include the iSee design and the OK-GOV series brands, along with OrthoTool’s designs. CooperVision said GP will also carry on as a distributor of Paragon CRT lenses.
Along with CooperVision’s other specialty eye care entities, GP Specialists will retain its name and operate as a complementary business with its headquarters in San Diego.
GP’s former president, Steve Wagner, will serve as a consultant to the company over the next several months to assist with the transition, while Mark Cosgrove will remain as GP’s GM with responsibilities centering around daily operations, and CooperVision’s Rich Jeffries will provide additional guidance by working across functions.
“CooperVision is committed to providing eye care professionals with advanced lenses and services, deep expertise and educational resources vital to expanding their options for managing myopia,” CooperVision specialty eye care president Dr. Juan Carlos Aragón said in the release. “This acquisition further improves our ability to meet ECPs’ needs, and ultimately the quality of vision and life for their patients. Adding the tremendous experience of GP Specialists builds upon what we have created with the acquisitions of Blanchard, Paragon, Procornea and Soflex in recent years.”