eyeonics Purchased by Bausch & Lomb
Bausch & Lomb has completed a definitive agreement to purchase eyeonics, Incorporated. The deal is expected to close during the first quarter of 2008, though necessary regulatory approvals are still pending. News of the deal was printed in a news release from Bausch & Lomb.
eyeonics will be integrated into the Surgical Business of Basuch & Lomb. The Chief Executive Officer, Co-Founder, and Chairman of eyeonics, J. Andy Corley, will oversee that business unit and Bausch.
That segment of Bausch & Lomb has an existing line of phacoemulsification equipment, intraocular lenses, refractive and vitreoretinal products to ophthalmologists around the world.
eyeonics was founded in 1998. The company develops and markets crystalens intraocular lens (IOL). This is the only FDA-approved IOL indicated to treat patients with cataracts. This market has been growing at a rate of approximately 20 percent annually.
Purchase of eyeonics will allow Bausch & Lomb to participate in the growing international market for IOL products. As well, the crystalens technology will complement the current tools and products available from Bausch & Lomb.
Bausch & Lomb was recently acquired by Warburg Pincus, a deal that was detailed by HospitalBuyer. That purchase made Basuch a privately owned company.
January 24, 2008 Related topics: Mergers & Acquisitions, Ophthalmology