Houlihan Lokey Advises MidEuropa on the sale of Optegra Eye Health Care
Houlihan Lokey is pleased to announce that Optegra Eye Health Care (Optegra), a portfolio company of MidEuropa and H2 Equity Partners, has agreed to be acquired by EssilorLuxottica. The transaction was signed on 30 May 2025, with closing pending regulatory approvals and other customary closing conditions.
Optegra is a fast-growing and highly integrated ophthalmology platform with a leading position in five key European markets—the U.K., Czechia, Poland, Slovakia, and the Netherlands.
Optegra, under the Optegra, Lexum, and Iris brands, operates an extensive network of more than 70 eye clinics and diagnostic facilities across Europe, offering medically necessary ophthalmic treatments and elective vision correction procedures. Following MidEuropa’s acquisition of Optegra in 2023, the company expanded into two new markets—Slovakia, where it became the market leader, and the Netherlands—while also opening new greenfield clinics in the U.K. and completing eight add-on acquisitions across five countries.
Working closely with Optegra’s management team and drawing on the firm’s deep healthcare expertise, MidEuropa helped drive notable operational improvements. These included deploying an AI-driven assistant to streamline cataract referrals and pre-surgery assessments, while improving post-operative care. Through a successful M&A strategy, Optegra achieved a significantly stronger market position while developing a solid platform to continue its impressive growth trajectory.
“This transaction marks the beginning of an exciting new chapter in Optegra’s evolution into a pan-European ophthalmology platform. Now backed by a global leader in vision care, the company is exceptionally well-positioned to further strengthen its leadership in the eyecare space. We would like to thank the management team and the clinical staff for their dedication and ambition throughout this journey,” commented Pawel Malicki, Partner at MidEuropa.
The acquisition represents a significant milestone in EssilorLuxottica’s medtech strategy. It builds on the group’s offering, which today spans far beyond frames and lenses to include AI-powered innovative technologies, wearables, medical instruments, and science-backed eyecare solutions that improve the lives of millions of people.
“Joining forces with EssilorLuxottica marks a transformative chapter for Optegra. Their global leadership in vision care, combined with our clinical excellence and patient-centric approach, creates an innovative platform to redefine the paradigm of ophthalmic services. This partnership not only accelerates our growth potential but also enhances our ability to deliver advanced, digital, and integrated eyecare solutions to all our patients. It also creates a significant opportunity for our clinical team, our staff, and leadership to be part of a global and inspiring leader in vision care,” commented Dr. Peter Byloos, Chief Executive Officer of Optegra.
EssilorLuxottica is a global leader in the design, manufacture, and distribution of advanced vision care products, eyewear, and medtech solutions, with a mission to help people around the world see more and be more by addressing their evolving vision needs. EssilorLuxottica is home to the most innovative lens technologies, including Varilux, Stellest, and Transitions, iconic brands such as Ray-Ban, Oakley, and Supreme, the most desired luxury licenced brands, and world-class retailers, including Sunglass Hut, LensCrafters, Vision Express, and Apollo. Driven by strong R&D, unique capabilities, and a leading asset portfolio, the company innovates across eyecare and smart eyewear. With more than 200,000 employees in 150 countries, 600 facilities, and 18,000 stores, it generated €26.5 billion in 2024 revenue.
Houlihan Lokey served as the exclusive sellside advisor to the shareholders of Optegra throughout the transaction.
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