Bausch & Lomb plans to acquire eyeonics inc.

Rochester, NY and Aliso Viejo, CA-Bausch & Lomb has entered into a final agreement to obtain eyeonics inc. Financial terms were not disclosed but the transaction is expected to close during the first quarter of 2008 subject to standard regulatory approval.

On completion of this agreement, eyeonics' operations will become part of Bausch & Lomb's surgical business, which offers a complete line of standard IOLs, phacoemulsification equipment, and vitreoretinal and refractive products.

The U.S. surgical business will be led by J. Andy Corley, eyeonics' co-founder, chairman, and chief executive officer (CEO).

The transaction includes eyeonics' IOL (crystalens), the first and only FDA-approved accommodating lens

"This acquisition immediately places Bausch & Lomb into the rapidly expanding premium IOL market. The [lens] technology complements our existing cataract surgical business, including our vision enhancement system [Stellaris] and our portfolio of monofocal IOLs," said Ronald L. Zarrella, chairman and CEO, Bausch & Lomb. "The acquisition also adds leadership depth, as Andy and his team bring a strong track record of product innovation and growth to the company. We look forward to their contributions as part of the Bausch & Lomb family."