Abu Dhabi’s Mubadala to invest in ophthalmic lens innovator Rodenstock

Abu Dhabi’s Mubadala Investment Company would invest in Rodenstock Group, a manufacturer of premium ophthalmic lenses, it announced today.

Mubadala would pile funds as a minority investor alongside funds advised by Apax (the “Apax Funds”).

Rodenstock has been a leader in prescription lenses for over 140 years, since its inception in 1877. Headquartered in Munich, Germany, Rodenstock employs around 4,900 people worldwide and is represented by sales subsidiaries and distribution partners in more than 85 countries.

The company has a strong portfolio of innovative technologies – its patented “DNEye Pro” technology enabled Rodenstock to become the first company to measure the individual shape and size of each eye using thousands of data points. The technology allows the company to produce individualized eyeglass lenses, called Biometric Intelligent Glasses. The company’s portfolio also includes eyewear under the Rodenstock and Porsche Design brands.

Camilla Macapili Languille, head of Life Sciences at Mubadala, said: “Rodenstock is the leading pure play lens manufacturer in the European market, with a strong reputation for innovation and a consistent focus on offering a differentiated customer proposition. We see its highly customized biometric lenses as only one part of its growing pipeline of proprietary technologies that will enable significant future growth.”

“Mubadala will work in partnership with Apax to support the Rodenstock management team’s vision of accelerating the company’s growth through innovation, commercial execution and digitization, whilst continuing to deliver the highest level of service to clients and partners,” said Mina Hamoodi, senior vice president of Life Sciences at Mubadala.

The transaction is subject to applicable regulatory approvals and is expected to close in the middle of 2021.

Last week, Mubadala and the UK Government announced a joint £1bn investment in the UK life sciences sector.

Read: Abu Dhabi’s Mubadala to invest £800m in UK life sciences sector