Thomson Geer has advised Ellex Medical Lasers Limited (ASX:ELX), on the sale of Ellex Lasers & Ultrasound to Lumibird Group SA

1 July 2020

News

Thomson Geer has advised Ellex Medical Lasers Limited (ASX:ELX), a world leader in medical technologies for the detection and treatment of eye disease, on the successful completion of the sale of Ellex Lasers & Ultrasound to Lumibird Group SA.

The deal valued at approximately $100 million, was signed pre COVID-19, and subject to several conditions has since completed on 30 June. The transaction represents a significant milestone in Ellex Medical Lasers history as it enables them to continue in alignment with their strategic plans to design and manufacture innovative, consumable glaucoma technologies and devices.

This deal also marks a name change for Ellex Medical Lasers, with the Australian Securities and Investment Commission (ASIC) registering the change of company name to Nova Eye Medical Limited. Effective from 1 July 2020, the name change also includes an ASX ticker change from “ELX” to “EYE”.

Chairman of Nova Eye Medical, Victor Previn said, “Loretta and her team at Thomson Geer  provided practical and diligent legal  support to our transaction team.”

“They were innovative, always accessible  and highly organised. From a personal perspective Loretta was highly approachable, attentive, strategic and astute. The TG team was a pleasure to work with”, Mr Previn continued.

The Thomson Geer team was led by Partner, Loretta Reynolds, and supported by Senior Associate, Jemma Smith, Special Counsel, Annabel West and Partner, Sanushka Seomangal.