DORC International has announced the acquisition of Peregrine Surgical LLC and the acquisition of the full ownership of WEFIS GmbH following an initial equity investment announced earlier in 2022. Both acquisitions significantly extend the production and innovation capabilities of the business while expanding the geographic reach and speed-to-market of DORC’s strategy.
Acquisition of Peregrine Surgical LLC – Key transaction highlights:
- Further consolidates the relationship with Peregrine Surgical, a key supplier and partner to DORC for more than 15 years
- Increases DORC’s American workforce to over 100 employees and adds a second manufacturing site in the US – significantly expanding its manufacturing capabilities in the country and directly supporting the stated strategic goal of reaching #2 position in the US retina market
- Integration of Peregrine Surgical will drive development of laser and illumination technologies optimized for the EVA NEXUS system, and further strengthens DORC’s instrumentation portfolio for 27g minimally invasive surgery and directional laser probes in the US market
- Further enhances innovation capabilities with the launch of a Center of Excellence in the US
- Expected to accelerate the US launch of instrumentation, with dedicated regulatory capabilities to enable expedited FDA clearance that will be further leveraged to speed-up product launches outside the US
Concurrently, DORC also completed the acquisition of the remaining stake in WEFIS GmbH. Following almost 20 years collaboration as a supplier, this acquisition represents a significant strengthening of DORC’s presence in the cataract surgical market.
Acquisition of WEFIS GmbH – Key transaction highlights:
- DORC has identified phaco handpiece technology as critical to its cataract surgical offering, the integration of WEFIS will enable DORC to develop proprietary products optimized for the EVA NEXUS
- Acquisition of remaining stake in WEFIS will further accelerate full integration of operations, regulatory and innovation functions to better support the needs of DORC customers
- DORC is committed to continue serving the existing WEFIS customer base in Germany and across Europe
Commenting on these acquisitions, DORC International CEO, Pierre Billardon, welcomed the news: “We are delighted to bring both Peregrine and WEFIS, our long-standing partners, into DORC. Further to the recent approvals of EVA NEXUS in Europe and the USA, these acquisitions will enhance our manufacturing and innovation footprint as well as market access capabilities in VR and Cataract markets around the world."
“Our entire organization is excited and proud to partner with DORC," commented Peregrine Surgical President, Todd Richmond." This is a tremendous opportunity to combine Peregrine’s expertise in laser and illumination delivery with DORC’s growing market presence and strong strategic vision."
“Completion of this deal will realize the full potential of combining DORC’s leadership in retina with the long track record of WEFIS for innovation in cataract surgery” - commented WEFIS CEO, Dietrich Wernz." All the team at WEFIS are looking forward to the potential from this collaboration and remain committed to supporting our existing industry customers across Europe."
Read the full press release from DORC International.
Source: DORC International