PARIS, France and HEIDELBERG, Germany—EssilorLuxottica, a global leader in the optical industry, announced it has completed the previously announced transaction to acquire an 80 percent stake in Heidelberg Engineering, a Germany-based company specializing in diagnostic solutions, digital surgical technologies and health care IT for clinical ophthalmology. As first reported in VMAIL in July, EssilorLuxottica indicated that the agreement represents a step forward in the group’s continued growth in the med-tech space, and as part of the company, Heidelberg Engineering will continue to serve the market under its established brand, delivering the same solutions and expertise.

“Heidelberg Engineering, renowned for its expertise in early detection and diagnosis, is a perfect fit for EssilorLuxottica as it will bolster our presence in the med-tech space,” stated Francesco Milleri, chairman and chief executive officer, and Paul du Saillant, deputy chief executive officer, at EssilorLuxottica back in July.

The closing transaction has been cleared by the relevant competition authorities, according to the announcement.