TOKYO, December 22, 2009Canon Inc. ("Canon"; President and COO: Tsuneji Uchida; Headquarters: Tokyo, Japan) and OPTOPOL Technology S.A. ("OPTOPOL"; President: Adam Bogdani; Headquarters: Zawiercie, Poland) today announced that the two companies have reached an agreement to make OPTOPOL a consolidated subsidiary of Canon. Canon intends to acquire 90% of the outstanding shares of OPTOPOL through a tender offer with the aim of achieving the world's No. 1 position within the overall ophthalmic diagnostic equipment segment.
Under Phase III of its Excellent Global Corporation Plan, a five-year initiative launched in 2006, Canon aims to maintain its high-profitability structure and join the ranks of the world's top 100 companies in terms of all key measures of business performance. As a principal strategy toward the realization of this goal, Canon aims to achieve the overwhelming No. 1 position worldwide in all of its current core businesses. Towards this goal, Canon welcomes OPTOPOL into the Canon Group as a partner toward the realization of becoming No. 1 in the world for comprehensive ophthalmic diagnostic equipment. The inclusion of OPTOPOL into the Canon Group is expected to offer the following three benefits.
The first benefit is entry into the field of Optical Coherence Tomography (OCT). OCT plays an important role in fundus-examination devices that make use of near-infrared light for the diagnosis of retinal disorders, including such leading causes of eyesight loss as age-related macular degeneration and glaucoma. Such devices have garnered attention as innovative ophthalmic diagnostic tools that make possible more precise, more accurate diagnoses compared with conventional diagnostic equipment. Accordingly, this medical equipment segment is expected to undergo significant growth. OPTOPOL possesses a powerful product lineup that includes advanced OCT models and the acquisition of OPTOPOL would provide the Canon Group with a major foothold into the OCT product segment.
The second benefit is a strong complementary product mix. OPTOPOL's product lineup boasts strengths in such areas as OCT, ultrasound scanners, corneal topographers, and perimeters, while Canon excels in the areas of retinal cameras, refractors and tonometers. The combination of the two companies' product offerings makes possible a greatly enhanced product portfolio spanning a wide range of ophthalmic diagnostic systems.
The third benefit is technological synergies. OPTOPOL, with strength in optical tomographic technology, possesses advanced technological capabilities, as illustrated in its joint research project in collaboration with Poland's Nicholas Copernicus University. Canon's area of expertise, by comparison, lies in the areas of optics and imaging technology as a leading manufacturer of cameras and lenses. Joint product-development efforts by both companies would lead to the creation of groundbreaking new ophthalmic diagnostic tools.
Following the completion of the acquisition, OPTOPOL will maintain its headquarters in Zawiercie, Poland, and continue to conduct global business activities.
The Optopol Group, based in Poland, develops, manufactures and sells a wide range of innovative ophthalmic diagnostic equipment, including OCT systems making possible retinal tomography. The company, with business operations throughout Europe, the United States and Japan, continues to grow.
(Note: Yen figures calculated at an exchange rate of 1 PLN = 32 yen)