Optometric Management

FEB 2017

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CLINICAL POSTERIOR OPTOME TRIC MANAGEMENT 10 F E B R U A R Y 2 0 1 7 • O P T O M E T R I C M A N A G E M E N T . C O M L E A D ING OF F LEADING OFF LEADING OFF TIPS, TRENDS & NEWS YOU CAN USE ESSILOR AND LUXOTTICA SIGN AGREEMENT TO COMBINE COMPANIES E ssilor and Luxottica signed an agreement to become the holding company Es- silorLuxottica, under the wholly owned company Essilor Interna- tional, according to a press release issued by the company. e trans- action is expected to close in the second half of 2017. Under the terms of the trans- action, Delfin, the family holding company of Luxottica, would con- tribute its entire 62% stake in the eye care giant to Essilor in return for between 31% and 38% of the shares of EssilorLuxottica, making the family its largest shareholder. e new company would have more than 140,000 employees, including Essilor Chairman and CEO, Hubert Sagnières, who G oogle's Verily Life Sci- ences, Nikon and its subsidiary, Optos, have agreed to collaborate on devel- oping technology for diabetic retinopathy and diabetic macu- lar edema screening and assisted reading programs. e purpose: to facilitate referrals from pri- mary care doctors to eye doctors and simplify disease diagnosis by eye doctors. would be executive vice-chairman and deputy CEO, with equal pow- ers as the chairman, and CEO, and Luxottica's Executive Chairman, Leonardo Del Vecchio, who would be executive chairman and CEO. e merger would bring to- gether the world's two largest opti- cal companies, "one dedicated to lenses and the other to frames," to better respond to global needs "in vision correction and vision pro- tection," says Mr. Sagnières. Based on the companies' 2015 results, the new company would have posted combined net rev- enues of more than 15 billion euros (about $16 billion). In an interview with Eyecare Business (both OM and Eycare- business are published by PentaVi- e partnership will combine Nikon's optical engineering and precision manufacturing, its pro- prietary ultra-widefield technol- ogy and commercial presence among eyecare specialists, and Verily's deep machine learning technology, according to a Nikon press release. e Verily tech- nology was described in a study published online last year by the JAMA Network sion), Essilor's Senior Vice Presi- dent of Customer Development Howard Purcell, O.D., F.A.A.O., discussed the benefits of a merger: • Product innovation. "We've innovated independently on the frame side and on the lens side. So I'm excited for the opportunity to figure out how we can innovate together around the frame and lens," says Dr. Purcell. • Supply chain efficiencies. Dr. Purcell said that the supply chain is "a process that's ripe for improvement and one that we've been working on." • Enhanced consumer mes- saging. "It's important for con- sumers to understand the value of premium brands and the value of an eye exam," says Dr. Purcell. • Wearables market. "I think we'll see continued efforts being made to try to create opportuni- ties for wearers and ECPs to par- ticipate in," Dr. Purcell says. • Luxottica's support. With the agreement, Luxottica would become "heavily invested in op- tometry" and be motivated "to see independent optometry rise and succeed. . ." says Dr. Purcell. To view the complete article, written by Eyecare Business Managing Editor Susan Tarrant, visit eyecarebusiness.com/webex clusives COLLABORATION TAKES ADVANTAGE OF DEEP LEARNING TECHNOLOGY

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