Abbott completes acquisition of AMO

The acquisition of AMO is expected to enhance and strengthen Abbott’s diverse mix of medical device businesses and give it a leadership position in the eye care market.

The final step in the acquisition process was a short-form merger of Rainforest Acquisition, a wholly owned subsidiary of Abbott, with and into Advanced Medical Optics. As a result of the merger, all outstanding shares of AMO common stock not tendered in the cash tender offer were converted into the right to receive $22 per share in cash, without interest and subject to any required withholding taxes.

John Capek, executive vice president of medical devices at Abbott, said: “As with previous acquisitions that have strengthened and diversified our business, we’re entering a market that’s aligned with demographic trends and growing medical need. This acquisition provides Abbott access to a $22 billion global market and the opportunity to help a very large patient population.”