Carl Zeiss Meditec Profit Rises on Surgical Buy

14 Aug 2007 • by Natalie Aster

Carl Zeiss Meditec AG, a German maker of medical lasers to correct vision defects, said third-quarter profit rose 56 percent after the company consolidated the acquisition of a surgical unit from its parent, reported The Bloomberg.

Net income in the period ended June 30 increased to 11.3 million euros ($15.4 million), or 14 cents a share, from 7.26 million euros, or 22 cents, the Jena-based company said in a statement on Hugin newswire today. Earnings per share reflect a share sale to finance the acquisition. Sales rose 43 percent to 135.5 million euros.

Carl Zeiss Meditec bought the optical technology unit owned by Carl Zeiss Group last year to expand the range of products and benefit from an aging population in which eye disease is on the rise. The company is contemplating a rival offer for WaveLight AG after Alcon Inc. raised its bid by 50 percent to $135 million. Carl Zeiss Meditec already owns 5 percent of WaveLight.

Hunenberg, Switzerland-based Alcon, the world's largest eye- care company, boosted an offer to 15 euros a share on Aug. 11, seeking to increase its stake to at least 75 percent. The acquisition would give the company the fastest laser-vision machine available. Carl Zeiss bought the stake in WaveLight on Aug. 3, and said it may bid for the rest of the company.