EssilorLuxottica and CooperCompanies, two of the world’s leading vision care companies, have entered into an agreement to create a 50/50 joint venture for the acquisition of SightGlass Vision, a U.S. based life sciences company focused on developing innovative spectacle lenses to reduce the progression of myopia in children. The joint venture will acquire SightGlass Vision from CooperCompanies, and the closing of the acquisition and creation of the joint venture is subject to regulatory approvals and other customary closing conditions. CooperCompanies previously held a minority ownership interest in SightGlass Vision and completed its acquisition of SightGlass Vision in January 2021.
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Source: https://www.globenewswire.com/news-release/2021/02/03/2169419/0/en/EssilorLuxottica-and-CooperCompanies-Announce-Joint-Venture-for-Acquisition-of-SightGlass-Vision.html