Laser eye surgery provider Ultralase has restructured financially with an additional multimillion pound investment under a new owner.
Further to a report in the Financial Times (March 1) that parent company 3i had lost control of the laser surgery group when lenders seized its equity, Tony Veverka, Ultralase chief executive said: 'The group has recently implemented a financial restructure in order to release funds for operational investment and brand expansion in the UK and Ireland.'
Jon Hughes, commercial director of Ultralase, told Optician that the equity of the business had been sold to a new holding company, owned by Royal Bank of Scotland, Barclays, Lloyds and Bank of Ireland together with management and that all the trading companies continued to make good profit.
Hughes added that the new investment in the business would be used to develop a training programme for staff, take on new technologies, for example presbyopia treatment, as well as giving the opportunity to expand into new markets.
'We still have pockets of the country where we are under-represented and we are keen to make sure our services are available to people in those locations,' he said.
Veverka added that other than offering a broader choice and even greater services, the restructure would have no impact on its customers whatsoever.