Abbott set to acquire Visiogen

Abbott has revealed that it plans to expand its lens technology capabilities with the acquisition of Visiogen.

The transaction will be completed for $400 million (244 million pounds) in cash and will serve to allow Abbott access to a next-generation accommodating intraocular lens technology to treat presbyopia for cataract sufferers.

Intraocular lenses are those implanted into the eye of a patient following the removal of the original lens due to clouding by cataracts.

John Capek, executive vice-president of medical devices at Abbott, said that the move demonstrates the company’s “continued commitment” to the field of vision care.

“Combining Visiogen’s accommodating lens technology with Abbott’s existing medical optics portfolio expands our ability to offer a diverse set of refractive options to our ophthalmic customers and the patients they serve,” he added.

This news follows Abbott’s announcement that XIENCE PRIME – an everolimus eluting coronary stent system for the treatment of coronary artery disease – is now on the market.