Yorkshire-based Ultralase sold for £175m

PRIVATE equity firm 3i today snapped up Leeds-based eye treatment business Ultralase in a £174.5m deal.
Ultralase is a leading High Street players in the UK ophthalmic treatment (laser vision correction) market.

3i have bought Ultralase from Corporación Dermoestética, the leading listed medical aesthetic business in Europe.

Ultralase currently operates 17 eye laser clinics across the UK, with 4 new clinic openings planned for 2008, in areas such as Maidstone and Southampton.

The investment will allow the company to continue this planned expansion across the UK, which is also set to include the opening of a number of consultation rooms during 2008.

The firm said the latest investment would build on its experience gained during an investment in Clínica Baviera, Spain's leading chain of ophthalmology clinics, which achieved a €300m public offering on the Spanish Stock Exchange in April, 2007.