Last month we trailed the forthcoming acquisition by Abbott of privately held ophthalmic device company OptiMedica Corporation. And now the ink’s drying on the deal which sees Abbott’s vision care business expand into the femtosecond laser-assisted cataract surgery market. Abbott has paid $250 million, net of cash with additional amounts totaling up to $150 million payable upon completion of certain development, regulatory and sales milestones.
Most cataract procedures are performed manually with the surgeon making incisions into the eye by hand. OptiMedica’s Catalys® Precision Laser System is designed to allow surgeons to replace some of the technically demanding manual steps in cataract surgery with precise, image-guided, femtosecond laser technology. A femtosecond laser can be used to create an anterior capsulotomy, effect phacofragmentation, and make a variety of incisions during cataract surgery. The Catalys laser system has both CE Mark in Europe and clearance from the U.S. FDA.
“OptiMedica’s Catalys system enhances Abbott’s leadership position in vision care with the addition of a state-of-the-art laser cataract technology to our portfolio,” said Murthy Simhambhatla, senior vice president, medical optics, Abbott. “OptiMedica’s technology combined with Abbott’s global market presence, offer the potential to provide advanced cataract treatment options to more patients around the world.”
Source: Abbott Medical Optics