Two of the world’s most prominent vision care leaders have announced a partnership to expand the fast-growing myopia management category and broaden access to emerging, evidence-based technologies and products.

CooperCompanies and EssilorLuxottica entered into a joint venture agreement to accelerate commercialization of innovative spectacle lenses from SightGlass Vision, which are designed to reduce the progression of myopia in children.

The joint venture will leverage the companies’ shared scientific and product development expertise, strengthening innovation opportunities and go-to-market capabilities. It builds on SightGlass Vision’s research, development, and clinical progress since its founding in 2016, driven by its sole focus on delivering science-based treatments to address the myopia epidemic.

The joint venture will acquire SightGlass Vision from CooperCompanies, and the closing of the acquisition and creation of the joint venture is subject to regulatory approvals and other customary closing conditions.

CooperCompanies previously held a minority ownership interest in SightGlass Vision and completed its acquisition of SightGlass Vision in January 2021.