Moorfields Eye Hospital has sold its commercial pharmaceutical business, Moorfields Pharmaceuticals, to the ophthalmic manufacturer, Rayner Intraocular Lenses Limited, it confirmed today (3 October).
The sale follows a strategic review by the hospital, which confirmed that all Moorfields Pharmaceuticals employees will transfer to Rayner and will continue to be based in London.
Rayner was established more than 100 years ago and is the only manufacturer of intraocular lenses in the UK. It sells products to more than 80 countries globally.
Acquiring Moorfields Pharmaceuticals, Rayner said it believed the purchase would allow it to provide the overall visual outcome of its patients.
CEO of Rayner, Tim Clover, said: “Although the intraocular lens plays a leading role in the visual outcomes of cataract and refractive surgery, the pharmaceuticals that manage the tear film and inflammation are critical to the end result. For that reason, the acquisition of Moorfields Pharmaceuticals will enable us to offer an even wider range of ophthalmic tools that aid and streamline the surgical process whilst remaining focused on the visual outcome for the patient.”
Reflecting on the sale, chief executive of Moorfields Eye Hospital NHS Foundation Trust, David Probert, said: “We believe Rayner will enable the pharmaceutical business to grow and ensure that its products are available for many years to come.”