Bausch and Lomb to acquire eyeonics

Bausch & Lomb has announced that it has entered into a definitive agreement for the purchase of eyeonics, a privately-owned opthalmic medical device firm.

Financial terms of the agreement have not been publicly disclosed, while the acquisition is due to close in the first quarter of this year, subject to standard approval from regulators.

Under the terms of the deal, Bausch & Lomb will subsume the operations of eyeonics, which currently includes a comprehensive line of standard intraocular lenses, vitreoretinal and refractive products and phacoemulsification equipment.

The business unit will continue to be led by co-founder, chairman, and chief executive officer of eyeonics J Andy Corley.

Ronald L Zarrella, chairman and chief executive officer of Bausch & Lomb, said: “We are excited to enter a new phase of growth and innovation and believe the eyeonics acquisition is another sign of our commitment to delivering innovative, high-quality products to ophthalmologists and patients worldwide.”

He added that this move represents the first acquisition at the firm following its transition to a private company in a transaction led by Warburg Pincus.

In August 2007, Bauch & Lomb purchased the Soothe emollient eye drop brand from Alimera Sciences in order to introduce a wider line of over-the-counter products for the relief of dry-eye symptoms.