Labtician Théa Announces Successful Completion of Joint Venture Resulting in a Stronger Labtician Ophthalmics, and Launch of Théa Pharma Canada

OAKVILLE, Ontario–(BUSINESS WIRE)–As two world-class family companies with a passion for eye care, Laboratoires Théa and Labtician Ophthalmics recognized an opportunity to work together to bring innovative new products to Canadian patients. In 2018, this shared vision resulted in the formation of Labtician Théa, an ambitious Joint Venture with a 5-year term.

By focusing on supporting Canadian Eye Care professionals with providing optimal care to their patients, the Labtician Théa Joint Venture has achieved its goals of creating a strong presence in the Canadian marketplace and offering Canadian Eye Care Professionals the most comprehensive suite of products and services available in the industry. From diagnostics and surgical equipment that provide solutions across Cornea, Glaucoma and Retinal Diseases, to cutting-edge preservative-free treatments for the management of Glaucoma, Dry Eye Disease and Lid Hygiene, Labtician Théa has brought innovation to practice for clinicians and their patients.

With the successful completion of the agreed-upon 5-year term, as of January 1, 2023, the Joint Venture will terminate, resulting in a stronger Labtician Ophthalmics with a new Therapeutics Division to complement its existing Surgical Division, and the launch of Théa Pharma Canada Inc., an affiliate of Laboratoires Théa, based in the Greater Toronto Area. As two separate entities, Labtician Ophthalmics and Théa Pharma Canada will be better positioned to service and support the Canadian Eye Care community for many years to come.

“Our partnership with Labtician Ophthalmics has allowed us to get to know the Canadian Eye Care professionals and understand their needs and that of their patients. It was a great way to introduce them to Théa and bring innovative best-in-class products to market that are supported by strong clinical evidence,” says Fiona McCloskey, Managing Director of Labtician Théa and Théa Pharma Canada. “Since the start of the Joint Venture with Labtician Ophthalmics, Eye Care Professionals and patients have come to know and trust Théa products, allowing us to build a reputation and truly make a difference in patient lives every day. With the launch of Théa Pharma Canada in 2023, our goal is to continue to provide ECPs and patients with new innovative treatments and solutions for a wide range of ocular diseases including Dry Eye, Glaucoma, Allergy and more over the years to come. We are thankful for our partnership with Labtician Ophthalmics and excited for this new chapter in our journey as Théa Pharma Canada.”

This unique Joint Venture has also been a success for the team at Labtician Ophthalmics.

“Working with the world-class team and products at Théa allowed us to demonstrate our unique ability to platform other companies in the Canadian marketplace and showcase our skill of developing unprecedented business models and executing against them,” says Polydor Strouthos, President of Labtician Ophthalmics. “We built on our expertise in regulatory, cross-functional marketing, and customer expansion, and increased our capacity to launch products and entities. We bring innovation to practice and will provide our valued customers with more best-in-class products, services, and innovative solutions due to a stronger Labtician Ophthalmics with a new Therapeutics Division to complement our existing Surgical Division.”

When mutually beneficial opportunities arise, Théa Pharma Canada Inc. and Labtician Ophthalmics Inc. will leverage their strong relationship and shared family values as Partners of Choice, and look forward to robust, sustained growth for both companies in the years to come.

About Labtician Ophthalmics Inc.

Labtician Ophthalmics, Inc. is a solutions-focused provider of specialty medical devices and pharmaceutical products to the Canadian Eyecare community. With 60 years of history in Canada, Labtician Ophthalmics Inc. continues its tradition of bringing innovation to practice through the commercialization of exclusive and innovative medical devices for use in surgery. Now as a stronger Labtician Ophthalmics with a new Therapeutics Division to complement the existing Surgical Division we provide our valued customers with even more best-in-class products, services, and innovative solutions including our expertise in launching products and entities into the Canadian marketplace.

About Théa Pharma Canada Inc.

Théa Pharma Canada, Inc. is an affiliate of Théa, the leading independent Eye Care group in Europe specializing in the research, development, and commercialization of products exclusive to Eye Care. With over 150 years of history, the family owned and run company is the pioneer and leader in the development of preservative-free treatments. Today, it constitutes a network of more than 1500 employees worldwide, and its products are available in more than 75 countries. With the launch of Théa Pharma Canada in 2023, our goal is to continue to provide ECPs and patients with innovative treatments and cutting-edge solutions for a wide range of ocular diseases including Dry Eye, Glaucoma, Allergy and more over the years to come.