Johnson and Johnson completes Abbott Medical Optics takeover

Johnson and Johnson has announced the completion of its acquisition of former Abbott subsidiary Abbott Medical Optics.

The $4.33 billion (3.53 billion pounds) acquisition encompasses ophthalmic products in three areas of patient care – cataract surgery, laser refractive surgery and consumer eye health.

Abbott Medical Optics is an established global leader in ophthalmic surgery, offering high-end intraocular lenses used in cataract surgery. It also provides laser vision technologies to enhance surgeon productivity and products such as eye drops and cleaning systems for contact lens users.

These product lines will now be combined with the Acuvue contact lens business to form a new corporate division called Johnson and Johnson Vision. The creation of this business will give Johnson and Johnson better access to the fast-growing eye health market, which is worth an estimated $70 billion.

Ashley McEvoy, chairman of Johnson and Johnson's consumer medical devices business, said: "With the addition of Abbott Medical Optics' world-renowned ophthalmic surgery business, Johnson and Johnson Vision is poised to become a world leader in eye health."

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