Alcon to acquire LenSx Lasers

July 8, 2010

Alcon Laboratories announced that it has entered into a definitive agreement to acquire LenSx Lasers Inc., a privately held company located in Aliso Viejo, CA, that developed the first femtosecond laser to receive FDA clearance for use as a part of cataract surgery.

Huenenberg, Switzerland-Alcon Laboratories announced that it has entered into a definitive agreement to acquire LenSx Lasers Inc., a privately held company located in Aliso Viejo, CA, that developed the first femtosecond laser to receive FDA clearance for use as a part of cataract surgery.

The LenSx system is indicated for anterior capsulotomy and laser phacofragmentation during cataract surgery, providing a complementary surgical approach to certain manual steps within the traditional cataract procedure.

Alcon said in a prepared statement that it will pay $361.5 million in cash at closing to LenSx shareholders for their shares, plus maximum contingent payments of $382.5 million based upon the achievement and over-achievement of future femtosecond unit and procedure fee revenue milestones. The closing of this acquisition is subject to receipt of required regulatory approvals and customary closing conditions.

“This complementary technology aligns with Alcon’s strategic focus to help surgeons improve every step of the cataract procedure,” said Stuart Raetzman, vice president, Global Marketing and area president for the United States. “The LenSx laser provides surgeons a new level of predictability and control over critical manual steps during cataract removal - making those steps more precise and reliable.”

Added LenSx President and Chief Executive Officer Ronald Kurtz, MD, “This acquisition further strengthens patient choice in cataract surgery while offering new opportunities for ophthalmic surgeons and surgical centers worldwide.”