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Hoya Vision Care Expands its Direct Presence in Brazil
Tokyo (ots/PRNewswire) - ?
Hoya Corporation's Vision Care Division, a key player in the global market for ophthalmic lenses, today announced the acquisition of Optotal Hoya S.A., its exclusive partner in Brazil. Optotal operates the largest prescription lens (Rx) laboratory and one of the largest wholesale distribution networks in the ophthalmic lens market in Brazil.
HOYA's cooperation with Optotal started in 1992 with a distributorship agreement and continued with a successful Rx manufacturing joint-venture established in 2007. Since then, Optotal has rapidly become a significant market player in Brazil with a leading position in the market segment of premium progressive lenses.
Optotal employs 400 people and generated an average annual sales growth rate of 28% since 2008.
With the acquisition of Optotal, HOYA will have a strong footprint in South America and will pursue aggressive expansion opportunities in the fast-growing Brazilian market. By the year 2013, the total population of Brazil is forecast to exceed 200 million inhabitants, with the number of consumers aged 45 years and older --- the target market for progressive lenses --- exceeding 57 million.
Dr. Carlos Bessa, Founder and CEO of Optotal, said: "We look forward to expanding our partnership with Hoya Vision Care and building upon the great success we have enjoyed for 20 years. Our Team is very excited to join the Hoya family. We cherish close relationships with our customers, and are highly committed to enriching their practices with best-in-class lens materials, designs and surface treatments."
Gerald W. Bottero, President and CEO of Hoya Vision Care, said: "The acquisition of Optotal is an important step for HOYA in setting the basis for future growth within the BRIC countries. We look forward to working with Dr. Bessa and his Team to expand our platform of high quality lenses and services in Brazil. We plan to further strengthen the premium position established by Optotal with continuous product innovation, trade and consumer education, and more points-of-presence."
About Hoya Corporation:
Founded in 1941, Hoya Corporation is a global med-tech company and the leading supplier of innovative and indispensable high-tech products and services based on its optics technologies. Hoya is active in the fields of Life Care and Information Technology providing eyeglasses, medical endoscopic system, intraocular lenses, optical lenses as well as key components for the semiconductor devices, LCD panels and HDDs. Hoya now has about 100 subsidiaries and affiliates, and employs over 34,000 people worldwide. In last fiscal year ending March 2011 Hoya has recorded JPY 413.3 billion in sales on continuing operations.
Contact Information: Akiko Maeyama, Corporate Communications,