Who owns D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)?

D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) has been 100% owned by CARL ZEISS MEDITEC since August 2023.

At what enterprise value was D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) acquired in 2023?

During the acquisition of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) by CARL ZEISS MEDITEC in 2023, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) when it was acquired by CARL ZEISS MEDITEC?

The estimated EV/EBITDA multiple for D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) is in the range of 15x - 25x.

What was the revenue of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) at the time of the deal?

The revenue of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) at the time of the deal is estimated to be in the range of 150M - 250M EUR.

What was the EBITDA of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) during the acquisition?

D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)'s EBITDA is estimated to be in the range of 50M - 100M EUR.

How is the data for the D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.unquote.com/benelux/news/3029818/eurazeo-taps-rothschild-for-dorc-exit

What is the average EV/EBITDA multiple for the Healthcare & Pharma sector in 2026?

The average EV/EBITDA multiple for the Healthcare & Pharma sector in 2026 is 14.3x.

← DATABASE

Home Database Healthcare & PharmaD.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)

08/2023

D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) acquired by CARL ZEISS MEDITEC

NETHERLANDS Life Sciences / Medical Devices EV 500M - 1.5b EUR

Context

Eurazeo has completed the sale of D.O.R.C. to Carl Zeiss Meditec AG. This transaction marks the successful conclusion of a four-year transformation under Eurazeo's ownership, during which D.O.R.C. evolved from a European champion into a global platform. The strategic rationale for Zeiss is to create a comprehensive "end-to-end" offering for ophthalmologists. By integrating D.O.R.C.'s leading vitreoretinal surgical systems with Zeiss's existing portfolio of diagnostics, microscopes, and digital workflows, the combined entity becomes a one-stop-shop for eye care providers. The deal also unlocks significant cross-selling opportunities, leveraging Zeiss's massive global distribution network to accelerate the adoption of D.O.R.C.'s products in under-penetrated markets.

It is worth noting that the fund Eurazeo took control of D.O.R.C. through an LBO in 2019.

D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER), which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.3x).

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Target

Headquartered in the Netherlands, D.O.R.C. is a global leader in ophthalmic surgery equipment. It specializes in the "posterior segment" of the eye (vitreoretinal surgery). Its flagship product, the EVA Nexus platform, is a dual-function system used for both cataract and retina surgeries, highly regarded by surgeons for its precision.

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2022

Other operations with D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
04/2019	EURAZEO	D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)	NETHERLANDS	Medical Devices

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 150M - 250M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of D.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER) by CARL ZEISS MEDITEC are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.