Getinge announces today an agreement to acquire 100% of the shares in FLUOPTICS SAS, a French based leader in fluorescence imaging as an aid to surgery. The acquisition will expand Getinge’s customer offering in clinical decision support by providing safe and improved operating efficiency.
FLUOPTICS, based in Grenoble, France, was founded in 2009 and has since developed NIR imaging systems, consisting of a dedicated camera and the related software, to visualize the vascularization and other tissues by the use of a fluorescent marker or by using the natural autofluorescence of the tissues. FLUOPTICS’s solutions allows for visualizing physiological and biological phenomena that are invisible to the naked eye.
“With the acquisition of FLUOPTICS, we are opening a new chapter for our Surgical Workflows business by expanding into the field of advanced visualization and decision support for surgeons,” says Stéphane Le Roy, President Surgical Workflows. “We will create a unique ecosystem with surgical lighting, fluorescence imaging and digital solutions for image processing and management.”
The addressable global market is estimated to be more than SEK 2.5 B, recording an annual compounded average growth rate of 8 % during the forecasted period. More than 380 institutions in US, Europe and Asia are currently using the FLUOPTICS technology in their daily clinical routine with over 40,000 procedures performed. The development and the production will remain in Grenoble and will, together with Getinge’s existing site in Ardon France, shape Getinge’s Center of Excellence for Optics and Visualization.
“I am particularly happy to join forces with Getinge and our team is eager to leverage its impressive international network to reach all Operating Rooms in the world, “says Odile Allard, CEO of FLUOPTICS. “Together with Getinge R&D and commercial teams, we are confident that FLUOPTICS will be in the best position to accomplish our mission to establish a new standard in fluorescence imaging in the Operating Room”.
Getinge will, via its subsidiary Getinge Infection Control SAS, acquire all outstanding shares in Fluoptics and will pay approximately EUR 26 M in cash on closing. Moreover, additional earn-out may be paid if agreed milestones are achieved. The acquisition will be financed through available cash. Getinge expects no material integration costs. Until closing, Fluoptics will continue to operate as a wholly independent third party.
The transaction is subject to, and conditional upon, foreign direct investment approval in France and other specific closing conditions. The transaction is expected to close before the end of the second quarter 2022.