Bausch & Lomb Completes Acquisition of Technolas Perfect Vision
Published: Jan 28, 2013
ROCHESTER, N.Y., Jan. 28, 2013 /PRNewswire/ -- Bausch + Lomb, the global eye health company, announced today that it has completed its acquisition of Technolas Perfect Vision GmbH, a leading ophthalmology laser company based in Munich, Germany. The combination of Bausch + Lomb and Technolas Perfect Vision marries two of the strongest brands in eye care. The new entity will be known as Bausch + Lomb Technolas, with a continued commitment to the development and commercialization of the finest surgical laser technology in the ophthalmic field.
Bausch + Lomb originally announced its intent to purchase all outstanding and unowned shares of Technolas Perfect Vision in November 2012. Technolas Perfect Vision 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. Financial details of the acquisition are not being disclosed.
The Technolas Perfect Vision team will become part of Bausch + Lomb's Surgical business, and its femtosecond and excimer laser platforms for cataract and refractive surgery will broaden the company's already robust product portfolio and new product pipeline.
Since December 2011, the two companies have been co-promoting the VICTUS femtosecond laser, which can perform both cataract and refractive procedures on a single platform. The VICTUS platform received marketing approval from regulatory authorities in Europe in late 2011 and received key clearances from the U.S. Food and Drug Administration (FDA) in July 2012. In addition to the VICTUS platform, Technolas Perfect Vision is developing excimer lasers for advanced refractive procedures and in the European Union is commercializing SUPRACOR®, a new technology for the treatment of presbyopia.
"The Technolas Perfect Vision team, led by CEO Dr. Kristian Hohla, has built a 'best in class' femtosecond laser platform and other exciting ophthalmic products that round out Bausch + Lomb's surgical product portfolio and position us to become a 'one-stop shop' for ophthalmic surgeons," said Brent Saunders, president and chief executive officer, Bausch + Lomb.
Adds John Barr, executive vice president and president, Bausch + Lomb Global Surgical, "Technolas Perfect Vision's unique laser platforms will enhance our ability to grow the business and augment our new product pipeline with cutting-edge surgical technology. We are pleased to welcome the Technolas Perfect Vision team to Bausch + Lomb and are committed to a seamless transition as we continue to provide physicians with systems, instruments and intraocular lenses that improve patients' sight worldwide."
Kristian Hohla, Ph.D., chief executive officer of Technolas Perfect Vision, will serve as the president of Bausch + Lomb Technolas, reporting to John Barr in the Surgical business of Bausch + Lomb. Concluded Dr. Hohla, "I want to thank the shareholders of Technolas Perfect Vision for their financial support of our endeavors and our employees for their passion and dedication to these innovative laser technologies. We are excited about this new chapter of our business and look forward to working with our Bausch + Lomb colleagues to advance the frontiers of ocular surgery."
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, NY, and employs roughly 11,000 people worldwide. Its products are available in more than 100 countries. More information is available at www.bausch.com.
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