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news.Bausch & Lomb, an eye health company, and 20/10 Perfect Vision, a provider of refractive surgery products, have announced their intent to form a joint venture focused on the laser vision correction industry.
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The joint venture (JV) will combine the refractive eye surgery assets of both businesses, delivering 20/10 Perfect Vision’s promising new technology for the correction of presbyopia in conjunction with Bausch & Lomb’s development expertise and worldwide commercial reach. The transaction is expected to close by the end of 2008.
Gerald Ostrov, chairman and CEO of Bausch & Lomb, said: “We believe that our investment of assets in the joint venture will help advance the refractive industry, benefiting ophthalmologists and patients worldwide.
“20/10 Perfect Vision’s development of presbyopia-correcting treatments using its Femtec femtosecond laser – when paired with our proven refractive products, R&D insights and global sales and marketing resources – holds tremendous potential to stimulate.”