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J&J in $4.33bn eye surgery unit acquisition

Published on 19/09/16 at 11:20am

Johnson & Johnson has agreed to buy Abbott Laboratories’ eye surgery equipment unit in an all-cash deal for £4.33 billion as part of its strategy to boost its three core businesses.

The unit, called Abbott Medical Optics, produces a range of products including equipment used in surgeries to repair cataracts and in Lasik procedures to improve vision, as well as eye drops and solutions. It generated $1.13 billion for Abbott last year. The deal includes ophthalmic products in three business segments – cataract surgery, laser refractive surgery, and consumer eye health.  It also includes AMO’s consumer eye health products – OTC drops for dry eye, as well as multipurpose solutions and hydrogen peroxide cleaning systems for contact lenses.

In a statement from J&J, the company noted: “Eye health is one of the largest, fastest growing and most underserved segments in health care today. With the acquisition of Abbott Medical Optics’ strong and differentiated surgical ophthalmic portfolio, coupled with our world-leading ACUVUE contact lens business, we will become a more broad-based leader in vision care.  Importantly, with this acquisition we will enter cataract surgery – one of the most commonly performed surgeries and the number one cause of preventable blindness.”

The deal is expected to be completed in the first quarter of 2017.

Matt Fellows

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