Alcon agrees to acquire STAAR Surgical

Alcon has entered into a definitive merger agreement with STAAR Surgical Company, through which Alcon intends to acquire STAAR. This is Alcon’s latest move in a string of acquisitions in 2025.¹

Earlier this year, Alcon announced it had acquired a majority interest in Aurion Biotech,² a clinical-stage company developing advanced cell therapies to treat eye diseases, and intends to acquire LENSAR.³ The LENSAR acquisition includes the ALLY Robotic Cataract Laser Treatment System, LENSAR’s proprietary Streamline software technology, and the LENSAR legacy laser system. Recently, Alcon also announced its plan to acquire LumiThera, Inc and its photobiomodulation device for the treatment of early and intermediate dry age-related macular degeneration.⁴ All deals are expected to close in mid to late 2025.

The planned acquisition of STAAR includes the EVO family of lenses (EVO ICL) for vision correction for patients with moderate to high myopia with or without astigmatism. EVO ICLs are implantable lenses that address a wide range of vision correction needs through a minimally invasive procedure that is reversible. EVO family ICLs are implanted between the iris and the natural crystalline lens during a procedure that does not remove corneal tissue.

STAAR celebrated 3 million global sales of the ECO ICL in early 2024, as well as the 30th anniversary of its proprietary Implantable Collamer Lens in October 2023.

Under the terms of the agreement, Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash. These outstanding shares represent approximately a 59% premium to STAAR’s 90-day volume weighted average price and a 51% premium to the closing price of STAAR common stock on August 4, 2025. According to the company, this transaction represents a total equity value of approximately $1.5 billion.

David Endicott, CEO of Alcon, commented on the planned acquisition in a press release from the company, saying, “With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK. This transaction will allow us to provide treatment options across the full spectrum of myopia—from contact lenses to surgical interventions—reinforcing our commitment to addressing the most significant needs in eye care.”

Stephen Farrell, CEO of STAAR, commented in a press release, saying, “We believe the transaction with Alcon represents the best path forward and provides the greatest value for STAAR shareholders.”

Farrell continued saying, “As we’ve shared, fluctuating demand in China over the past 2 years has continued to create significant headwinds for STAAR as a stand-alone company. I'm proud of our team’s efforts to address recent challenges, but there is more work to do. As a significantly larger company, Alcon has the capabilities and scale to accelerate EVO ICL adoption and bring our innovative technology to more surgeons and patients worldwide.”

According to Alcon, the transaction is not subject to a financing condition, and the company intends to finance the transaction through the issuance of short- and long-term credit facilities.

The transaction is anticipated to close in approximately 6 to 12 months, subject to customary closing conditions, including regulatory approval and approval by STAAR’s shareholders.

References

1. Alcon agrees to acquire STAAR Surgical. News release. Alcon. August 5, 2025. Accessed August 5, 2025. https://www.alcon.com/media-release/alcon-agrees-acquire-staar-surgical/

2. Harp MD. Alcon acquires majority interest in Aurion Biotech. Ophthalmology Times. March 27, 2025. Accessed July 7, 2025. https://www.ophthalmologytimes.com/view/alcon-acquires-majority-interest-in-aurion-biotech

3. Harp MD. Alcon agrees to purchase LENSAR. Ophthalmology Times. March 25, 2025. Accessed July 7, 2025. https://www.ophthalmologytimes.com/view/alcon-agrees-to-purchase-lensar

4. Harp MD. Alcon to acquire LumiThera and its photobiomodulation device for the treatment of dry AMD. Ophthalmology Times. July 7, 2025. Accessed August 5, 2025. https://www.ophthalmologytimes.com/view/alcon-to-acquire-lumithera-and-its-photobiomodulation-device-for-the-treatment-of-dry-amd