Fri 14 Oct 2022
DORC acquires 100% of the shares in Peregrine Surgical LLC and completes the acquisition of the remaining stake in WEFIS GmbH | PRESS RELEASE
Zuidland, NETHERLANDS – DORC International announced today the acquisition of Peregrine Surgical LLC and the acquisition of the full ownership of WEFIS GmbH following an initial equity investment announced earlier in 2022. Both acquisitions significantly extend the production and innovation capabilities of the business while expanding the geographic reach and speed-to-market of DORC’s strategy.
Acquisition of Peregrine Surgical LLC – Key transaction highlights:
- Further consolidates the relationship with Peregrine Surgical, a key supplier and partner to DORC for more than 15 years
- Increases DORC’s American workforce to over 100 employees and adds a second manufacturing site in the US – significantly expanding its manufacturing capabilities in the country and directly supporting the stated strategic goal of reaching #2 position in the US retina market
- Integration of Peregrine Surgical will drive development of laser and illumination technologies optimized for the EVA NEXUS system, and further strengthens DORC’s instrumentation portfolio for 27g minimally invasive surgery and directional laser probes in the US market
- Further enhances innovation capabilities with the launch of a Center of Excellence in the US
- Expected to accelerate the US launch of instrumentation, with dedicated regulatory capabilities to enable expedited FDA clearance that will be further leveraged to speed-up product launches outside the US
Concurrently, DORC also completed the acquisition of the remaining stake in WEFIS GmbH. Following almost 20 years collaboration as a supplier, this acquisition represents a significant strengthening of DORC’s presence in the cataract surgical market.
Acquisition of WEFIS GmbH – Key transaction highlights:
- DORC has identified phaco handpiece technology as critical to its cataract surgical offering, the integration of WEFIS will enable DORC to develop proprietary products optimized for the EVA NEXUS
- Acquisition of remaining stake in WEFIS will further accelerate full integration of operations, regulatory and innovation functions to better support the needs of DORC customers
- DORC is committed to continue serving the existing WEFIS customer base in Germany and across Europe
Commenting on these acquisitions, DORC International CEO, Pierre Billardon, welcomed the news: “We are delighted to bring both Peregrine and WEFIS, our long-standing partners, into DORC. Further to the recent approvals of EVA NEXUS in Europe and the USA, these acquisitions will enhance our manufacturing and innovation footprint as well as market access capabilities in VR and Cataract markets around the world”.
“Our entire organization is excited and proud to partner with DORC”, commented Peregrine Surgical President, Todd Richmond. “This is a tremendous opportunity to combine Peregrine’s expertise in laser and illumination delivery with DORC’s growing market presence and strong strategic vision”.
“Completion of this deal will realize the full potential of combining DORC’s leadership in retina with the long track record of WEFIS for innovation in cataract surgery” - commented WEFIS CEO, Dietrich Wernz. “All the team at WEFIS are looking forward to the potential from this collaboration and remain committed to supporting our existing industry customers across Europe”.
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About WEFIS GmbH
WEFIS GmbH has been developing, producing and distributing instruments for ophthalmic surgery since 1998. The focus is on products used in cataract and vitreoretinal surgery. The headquarters of our company has been located in Cologne since its foundation. Our development and production departments are located in Westerburg.
WEFIS is a pioneer in the field of cataract instruments with the Phaco Lite Technology handpiece in terms of handling, performance and compactness. Efficiency, quality and innovation are the core corporate values by which we have been operating for over 20 years. They are the quality promise to our customers to experience the complete service of the WEFIS brand. Patients and users deserve to receive products of the highest quality and safety.
As the basis for our success, our corporate strategy focuses on achieving technological progress through continuous development of our products. Our many years of experience, the intensive cooperation with internationally and recognized ophthalmologists as well as the cooperation with our worldwide distributors form the basis for our high quality standards. The decisive factors of our success concept are our motivated employees, a well-developed service system and the innovative strength of our company.
About Peregrine Surgical LLC
Peregrine was founded in 1991 by John and Sheila Richmond. Since its humble beginning, Peregrine has grown into a team of specialized manufacturers and developers who take tremendous pride in their work. John’s motto remained “If you build a quality product, they will come” and over the 30+ years since inception, Peregrine has built valued manufacturing relationships with countless partners in the ophthalmic space.
We are laser focused on our strength, providing quality products and services which are safe and effective. Our employees are our foundation and it is because of their dedication and commitment that Peregrine has succeeded.
Peregrine’s team is very excited for this new opportunity to grow together with such a forward thinking organization like DORC. We’ll continue to manufacture and develop high quality devices, driven by DORC’s knowledge and insight in the market.