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.”