Luneau is the leading supplier of ophthalmic diagnostic products in France, where it claims a 32 percent market share, and it disposes of a US sales subsidiary. The young Israeli firm has paid €3.7 million in cash for the company, which has 104 employees and annual sales of over €12 million, with a client base of 14,000 customers. Ophthalmic diagnostic equipment represented 84 percent of its sales last year and the balance consists of gynecology products.
Luneau's president, Patrick Luneau, has retired but will continue as an advisor to Marc Abitbol, president and CEO of Visionix, who is moving temporarily to France to oversee the integration of the two companies.
Visionix is still struggling to obtain a wider market presence for its flagship product, the VL3000 lens measuring device, and it has begun the introduction of its ALB and AV4000 lines in the USA, working together with Gerber Coburn. In the 2nd quarter ended June 30, Visionix managed to raise its own sales to $1,154,000 from $1,090,000 in the year-ago period. The gross margin jumped to 44 percent thanks to lower production costs, better control of the engineering process and a one-time refund of taxes on raw material purchases. The operating loss declined to $352,000 and the net loss dropped to $270,000. Break-even results are now expected by 2005.