The new acquisition expands Menicon's presence in the global GP contact lens market.
Nagoya, Japan, 15 October 2008 Menicon Co., Ltd. and Rose K International Limited announce that the two companies reached an agreement for Menicon to acquire 100% of the ownership of Rose K, effective as of 1 October 2008. With this acquisition, Dr. Paul Rose and Mr. Ian Jennings, founders and owners of Rose K International Limited, who have grown the Rose K business from little New Zealand to a global business that has established the Rose K lens as the market leader for keratoconus, will join the global Menicon group and continue to act as the main figures of the global Rose K operations. Menicon will allocate a substantial amount of resources to further grow the Rose K business world-wide, while maintaining and reinforcing the business relation with the existing labs. With the new acquisition, Menicon continue its global expansion on the GP contact lens segment.
Dr. Hiderani Tanaka, President of Menicon Co., Ltd, commented: "Over the years, we have seen the growth of Rose K to become the number 1 brand for keratoconus, and we have tremendous respect for Dr. Rose, Mr. Jennings, the Rose-K brand and all their labs and suppliers. The quality of its products and the business model fits very well into our company culture. We are extremely pleased to be able to work with Dr. Rose, Mr. Jennings, and their labs for the care of our Keratoconus patients. I am sure that both brands of Menicon and Rose K will substantially benefit from the synergy of working together as part of the same family. We see this new acquisition as an excellent opportunity to expand our presence in the global GP contact lens market"
"Dr Paul Rose and Mr Ian Jennings, founders & owners of Rose K International Limited, added: "We have developed Rose K to a level that now requires the diverse skills, expertise and resources that a growing multi-national company like Menicon can bring to Rose K lenses. Now, we can provide even better services to our customers including all the labs, eye care practitioners, and patients, and expand the Rose K brand to bring its benefits to many more keratoconus patients worldwide. We see the acquisition as a new beginning, which can involve us in an ongoing capacity. We are looking forward to the new challenges as well as to working with the Menicon Team and the current companies that have made Rose K the brand it is today.