Alcon closes acquisition of LenSx

August 27, 2010

Alcon Inc. has received regulatory approval of and has closed the acquisition of LenSx Lasers Inc.

Huenenberg, Switzerland-Alcon Inc. has received regulatory approval of and has closed the acquisition of LenSx Lasers Inc.

LenSx has developed a customizable, image-guided femtosecond laser to perform certain cataract surgery steps. It is designed to create an anterior capsulorhexis of exact diameter and fragment the lens for more efficient removal. It is the first such laser to receive FDA clearance for use as a part of cataract surgery, according to the company. Alcon anticipates that the proprietary femtosecond laser will be commercially available in the United States beginning in the fourth quarter of this year and in other countries in 2011.

“We are extremely pleased with the addition of the LenSx technology to Alcon’s current microincisional cataract surgery product portfolio,” said Stuart Raetzman, vice president, global marketing and area president for the United States.

LenSx President and Chief Executive Officer Ronald Kurtz, MD, said, “The LenSx team is thrilled to be a part of Alcon.”

Alcon paid a base purchase price of $361.5 million in cash to LenSx shareholders for their shares, plus committed to pay maximum contingent payments of $382.5 million based on the achievement and over-achievement of future femtosecond unit and procedure fee revenue milestones.