Bluebox Corporate Finance is delighted to announce the sale of Moorfields Pharmaceuticals, the commercial pharmaceutical business of the Moorfields Eye Hospital NHS Foundation Trust, to the ophthalmic manufacturer, Rayner Pharmaceuticals Limited. Pricing and other deal terms are not disclosed.
Moorfields Eye Hospital is the leading provider of eye health services in the UK and a world-class centre of excellence for ophthalmic research and education. With over 1,800 staff, the hospital enjoys a reputation, developed over two centuries, for providing the highest quality of ophthalmic care. Moorfields Pharmaceuticals is a leading supplier of licensed ophthalmic medicines, medical devices and ophthalmic specials (niche, unlicensed ophthalmic medicines) to both the hospital and community pharmacy markets. Bluebox were appointed following a strategic review by Moorfields Eye Hospital and the businesses within its portfolio. Rayner is a British company and the only manufacturer of intraocular lenses in the UK and has been operating for over 100 years and currently sells to more than 80 countries around the world.
Steven Davies, CFO of the Moorfields Eye Hospital NHS Foundation Trust, commented: “I’m really pleased with the service Bluebox provided. The team demonstrated excellent knowledge of the process to follow and led negotiations for the hospital in a way that allowed us to ensure we received appropriate value whilst focusing on reputational risk. Communication and service were of a very high standard.”
Nick Wallis, Associate Director at Bluebox, added: “Moorfields is a prestigious brand in the world of ophthalmology and we are delighted that we were able to get the best result for the Hospital, within the very clear objectives that were set at the start of the project. We are sure that Rayner will be an excellent home for the Moorfields Pharmaceuticals business and wish the management team continued success under their new ownership.”