By Adriano Marchese 
 

Cooper Cos. said Wednesday that it has entered into a joint venture with EssilorLuxottica S.A. with the aim of acquiring U.S.-based life sciences company SightGlass Vision.

The vision-care company said that SightGlass Vision focuses on developing lenses to reduce the progression of myopia in children, and the two companies expect to further strengthen innovation opportunities and go-to-market capabilities to grow the myopia-control category.

"This partnership is a natural extension to our existing portfolio of innovative myopia management products...and we firmly believe this partnership will strengthen our ability to accelerate those offerings," President and Chief Executive Al White said.

Cooper Cos. previously held a minority ownership position in SightGlass Vision and completed its acquisition of SightGlass Vision in January 2021.

The 50-50 joint venture will acquire SightGlass Vision from Cooper Cos., it said.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

February 03, 2021 16:57 ET (21:57 GMT)

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