Hoya Vision Care Expands its Direct Presence in Brazil

Hoya Vision Care Expands its Direct Presence in Brazil

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 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.”

Mr. Luiz Augusto Voss de Gregorio
Chief Financial Officer, Optotal Hoya S.A.
Dr. Carlos Bessa
TEL: +55 (21) 2102-8000

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