Abbott To Acquire Visiogen

Abbott has signed a definitive agreement to acquire Visiogen for $400m in cash, providing the company with a next-generation accommodating intraocular lens (IOL) technology to address presbyopia for cataract patients.

Visiogen’s accommodating IOL, called Synchrony, is designed to deliver improved vision at all distances, potentially eliminating the need for glasses or contact lenses, reducing glare and nighttime halos, and improving contrast sensitivity.

Reportedly, Abbott has entered the vision care segment following its February 2009 acquisition of Advanced Medical Optics.

However, the transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2009.

John Capek, executive vice president of Medical Devices at Abbott, said: 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.