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Santa Ana, CA—Almost 6 months after it surprised the ophthalmic investment community with its decision to acquire VISX Inc., Advanced Medical Optics Inc. (AMO) has announced it plans to acquire Quest Vision Technologies Inc.
Santa Ana, CA-Almost 6 months after it surprised the ophthalmic investment community with its decision to acquire VISX Inc., Advanced Medical Optics Inc. (AMO) has announced it plans to acquire Quest Vision Technologies Inc.
The Quest Vision deal follows a 1-year research and evaluation licensing agreement launched last May to develop accommodating IOL technologies and designs to treat presbyopia. That arrangement gave AMO the option to acquire Quest Vision after 1 year. Terms of the acquisition were not disclosed.
"We are enthusiastic about the potential of Quest Vision's proprietary technology, which is distinct from others under development in the industry because it uses the concept of a shape-changing optic to provide accommodation, rather than an axial movement used in single- or dual-optic alternatives," said Jim Mazzo, AMO's president and chief executive officer.
Tiburon, CA-based Quest Vision was founded in 2000 by a group of industry executives and surgeons on the basis of research by Randy Woods, MD, a cataract surgeon. The company has developed the FocusIOL for the cataract market and the FlexOptic for the refractive market.
The Quest Vision acquisition is AMO's third in the last year. On June 28, AMO completed its $450 million acquisition of Pfizer's ophthalmic business. Less than 5 months later, AMO announced it would pay $184 million cash plus 29 million shares of AMO stock to acquire VISX.