Rochester, New York, July 10, 2012 – Lumetrics Inc. announced today that it is acquiring key assets of the former WaveFront Sciences Company from Abbott. This business transaction will allow Lumetrics to expand its repertoire of services and grow its business substantially.
Lumetrics, begun in Rochester in 2003, is known for its OptiGauge system, which is designed to reduce production time and enhance quality for the manufacturers of medical devices, optics, and industrial materials.
Two of the three new assets will help Lumetrics in one of its main areas of business – that of assisting lens-makers with quality control. The new assets include the ClearWave and CrystalWave products, critical in the ophthalmics industry for the production of contact lenses and intraocular lenses. With these acquisitions, Lumetrics will now be able to help contact lens makers and lens-implant makers reach unprecedented levels of precision. The ultimate goal is to help manufacturers produce consistently clear, comfortable, and reliable contact and IOL lenses.
With a third product, the CLAS-2D sensor, Lumetrics will have the ability to monitor quality in several new arenas, most notably that of laser light. The sensor can measure, align, and direct laser light, allowing Lumetrics to work with everything from microscopic optics to satellite communications.
Lumetrics, which started at High Tech Rochester’s (HTR) Lennox Tech Enterprise Center, is expected to grow by 40 percent, with the new acquisitions. “The WaveFront Sciences products are a perfect fit to our business,” said John Hart, CEO Lumetrics®. “We share the same ophthalmic customer base and this acquisition allows us to merge our technologies to provide a more feature-rich offering to solve customer problems that neither company could do on its own.”
The new CLAS-2D offering allows Lumetrics® to enter a whole new market with existing and new products. “We are excited about obtaining such an important diagnostic tool,” Hart said. “This allows us to better serve our customers and we look forward to the significant growth opportunities these products will bring.”
Lumetrics® closed on the acquisition in July and is in the process of the knowledge transfer to its Rochester, New York headquarters. Lumetrics® will continue to work with key individuals from WaveFront Sciences, including hardware and software engineers and sales & marketing individuals. Terms of the acquisition will remain confidential.
“We have finalized orders for new systems, as well as maintenance and service contracts for existing systems,” said Steve Heveron-Smith, Vice President of Business Development. “Our engineering team, furthermore, is already talking with customers on combined Lumetrics® and WaveFront Sciences products.”
Lumetrics® has invented an accurate, non-contact measurement system designed to reduce production cycle time, and enhance quality control for manufacturers of medical devices, optics, and industrial materials. Lumetrics has installations of its OptiGauge thickness measurement system in six of the top 11 medical device manufacturers in the world. The systems measure balloons, catheters, stents, and many other medical products. Lumetrics® systems are deployed in quality control departments, R&D labs, and production floors providing real-time measurements to increase yields, reduce costs, and improve quality.