EURAZEO Completes Sale of DORC to Carl Zeiss Meditec AG

Eurazeo announced it has finalized the sale of the Dutch Ophthalmic Research Center (DORC) to Carl Zeiss Meditec AG, marking a significant transaction within the medical technology industry. DORC, a leader in the ophthalmic surgery space, has seen remarkable growth, particularly in the Vitreoretinal and Cataract market since its inception in 1983.

Throughout the last four years, Eurazeo has played a pivotal role in DORC's expansion by leveraging its expertise in the healthcare sector. This includes facilitating DORC’s geographical expansion into critical markets such as the United States and Asia, introducing multiple new product lines, and executing two strategic acquisitions in Germany and the U.S. These efforts underscore Eurazeo’s investment strategy aimed at fostering mid-market companies with strong fundamentals.

The transaction resulted in a gross cash-on-cash return of 2.6x for Eurazeo on its initial investment and a gross internal rate of return (IRR) of 24%. This concludes with approximately €386 million in proceeds benefiting Eurazeo's balance sheet, reaffirming the successful partnership between Eurazeo and DORC.