Alcon set to obtain remaining WaveLight shares

Alcon has notified WaveLight’s board of directors of its plans to obtain all the firm’s outstanding shares.

The former has achieved ownership of over 95 per cent of the share capital of the latter – which develops, manufactures and markets ophthalmology products, specialising in refractive surgery and diagnostic systems.

Although considered the principle shareholder of WaveLight’s approximate 6.6 million issued and outstanding shares, Alcon must acquire all remaining units as part of German securities law.

The eye care firm plans to purchase the remaining shares after the WaveLight annual general meeting on August 28th.

Kevin Buehler, Alcon’s president and chief executive officer, remarked the business looks forward to the operating efficiencies and development opportunities that will come from fully closing the takeover.

“Completing the WaveLight acquisition will enable us to finalise the combination of Alcon’s global commercial infrastructure with WaveLight’s leading technologies,” he said.

Last month, Alcon released its first quarter 2009 financial results. Mr Buehler noted the firm’s commercial execution and global diversification had delivered organic sales growth that was in line with forecasts.