ROCHESTER, NY and MUNICH, GERMANY--(Marketwire - September 08, 2011) -
Bausch + Lomb, the global leader in eye health, and Technolas Perfect Vision GmbH (TPV), a leading ophthalmology laser company, have entered into a definitive agreement providing Bausch + Lomb with an option to purchase all outstanding and unowned TPV shares for a total company value of up to EUR 450 million, based on the achievement of certain milestones and earnouts. TPV was established in 2009 through a joint venture between Bausch + Lomb and 20/10 Perfect Vision AG to develop and sell advanced refractive and cataract technologies.
"We have tremendous confidence in TPV's femtosecond laser technology and the company's ability to deliver a platform that will meet the needs of doctors and patients well into the future," said Brent Saunders, chief executive officer of Bausch + Lomb.
As previously announced, Bausch + Lomb and TPV will promote and further advance femtosecond laser platforms worldwide.
About Femtosecond Lasers
Femtosecond lasers emit optical pulses of extremely short duration in the domain of femtoseconds, as short as one-quadrillionth of a second. These ultrashort pulses are too brief to transfer heat or shock to the material being cut and can make surgical incisions with extreme precision.
About Bausch + Lomb
Bausch + Lomb is one of the best-known and most respected healthcare companies in the world. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. Founded in 1853, the company is headquartered in Rochester, N.Y., and employs more than 10,000 people worldwide. Its products are available in more than 100 countries. More information is available at www.bausch.com.
About Technolas Perfect Vision
Technolas Perfect Vision GmbH is a leading ophthalmology laser company, formed through a joint venture between Bausch + Lomb, and 20/10 Perfect Vision AG. TPV has a full range of expertise in both femtosecond and excimer businesses, with current innovations focused on laser cataract surgery and the correction of presbyopia. More information is available at www.technolaspv.com and www.better-reading-vision.net.