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Home Industry News Abbott completes OptiMedica takeover

Abbott completes OptiMedica takeover

20th August 2013

Abbott has announced the completion of its deal to acquire OptiMedica, expanding its vision care business into the femtosecond laser-assisted cataract surgery market.

The newly-purchased company is a privately-held Silicon Valley-based ophthalmic device specialist that offers products such as the Catalys Precision Laser System, which has been approved in both the US and Europe.

Allowing surgeons to replace some of the technically demanding manual steps in cataract surgery with precise, image-guided, femtosecond laser technology, thus avoiding the need to make incisions into the eye by hand.

The initial deal was valued at $250 million (159.46 million pounds), with additional amounts totaling up to $150 million to be payable upon completion of certain development, regulatory and sales milestones.

Murthy Simhambhatla, senior vice-president for medical optics at Abbott, said: "OptiMedica's technology combined with Abbott's global market presence offer the potential to provide advanced cataract treatment options to more patients around the world."

This comes after the company also recently announced the acquisition of peripheral technology developer IDEV Technologies.ADNFCR-8000103-ID-801627383-ADNFCR

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