Ultralase is acquired by 3i in a £174.5m deal

Private equity company 3i has acquired Ultralase, a leading player in the laser vision correction market, from Corporacion Dermoestetica in a £174.5m deal.

Ultralase, with a head office and financial centre in Leeds, operates 17 eye laser clinics across the UK and investment from its new owner will enable it to continue its UK expansion, with four new clinic openings planned for 2008, including Maidstone and Southampton. Ultralase is also planning to open a number of consultation rooms across the UK in 2008.

Ultralase said this week that it was well-placed to benefit from the growth in the refractive treatment market in the UK, which is expected to grow at 12 per cent per annum, with penetration rates expected to increase significantly in the next five years.