Bausch and Lomb to purchase Technolas Perfect Vision

Bausch and Lomb has announced plans to acquire Technolas Perfect Vision, the ophthalmology laser company it helped to establish in 2009.

The company has exercised its option to purchase all outstanding and unowned shares of the business, which originated as a joint venture between Bausch and Lomb and 20/10 Perfect Vision for the purpose of creating refractive and cataract technologies.

A co-promotion agreement was signed with Technolas in September 2011 that has helped to advance the commercialisation of the innovative Victus femtosecond laser, which has now been approved for sale in the US and Europe.

The takeover will be finalised by the end of January 2013 and will complement Bausch and Lomb's surgical portfolio, while helping to expand Technolas' reach in the ocular surgery market.

Brent Saunders, president and chief executive officer of Bausch and Lomb, said: "The Technolas Perfect Vision team has built a great company and from my perspective, the most innovative ophthalmic lasers in the industry."

This comes after Bausch and Lomb announced a new research alliance with Cirle last month that will help address unmet needs for the eye health community.