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Bausch & Lomb (B&L) is joining a German laser surgery equipment developer to create a new refractive surgery business.
-Bausch & Lomb (B&L) is joining a German laser surgery equipment developer to create a new refractive surgery business.
"We believe that our investment of assets in the joint venture will help advance the refractive industry, benefiting ophthalmologists and patients worldwide," said Gerald M. Ostrov, chairman and chief executive officer, B&L. "20/10 Perfect Vision's development of presbyopia-correcting treatments using its Femtec femtosecond laser-when paired with our proven refractive products, R&D insights, and global sales and marketing resources-holds tremendous potential to stimulate growth in corneal refractive surgery."
"We are excited about this unique opportunity to form a global company committed to focusing on refractive laser surgery," said Dr. Kristian Hohla, executive president of 20/10 Perfect Vision. "Combining innovative teams, visionary technologies, and state-of-the-art refractive surgery products will yield a powerful portfolio of options for customers and patients."
B&L will have a large investment stake in the venture, which will include 20/10 Perfect Vision AG's technology and B&L refractive surgery products and sales and marketing operations.
The new company, which has not yet been named, will be based in Germany including about 20 of B&L's 1,600 local workers. The new joint venture is scheduled to be complete by the end of the year.