Abbott is to acquire Visiogen in a $400 million cash deal that includes next-generation accommodating IOL technology to address presbyopia for cataract patients.
"Combining Visiogen's accommodating lens technology with Abbott's existing medical optics portfolio expands our ability to offer a diverse set of refractive options to our ophthalmic customers and the patients they serve," said John M. Capek, PhD, executive vice president, medical devices, Abbott.
The accommodating IOL is designed to mimic the eye's natural capacity to change focus, with the potential to deliver a full range of vision. The accommodating IOL has been implanted in more than 1,200 eyes and has been in extensive clinical studies nationally and internationally. It received CE mark designation and has been available commercially in Europe since January. It is under review by the FDA.
Abbott entered the vision-care segment following its February acquisition of AMO. This transaction is subject to customary closing conditions and regulatory approvals and expected to close in the fourth quarter of 2009.