Summary
It was announced today that Abbot Labs intends to acquire Visiogen (Santa Ana, CA) for $400 million in cash. Earlier this year Abbott acquired Advanced Medical Optics, manufacturer of the Tecnis Multifocal IOL and the VISX excimer laser. Visiogen's accommodating IOL, called Synchrony, is designed to deliver improved vision at all distances, potentially eliminating the need for glasses. Visiogen has obtained he CE Mark. FDA approval is pending and is expected in mid 2010.
Analysis
The acquisition of Visiogen establishes Abbott's determination and commitment to surgical ophthalmology in general, and to cataract and refractive lens surgery in particular. Currently available presbyopia correcting implants such as multifocal lenses are enjoying success but do have limitations in the form of halos and glare, while the earlier generations of accommodative lenses have tended not to provide an adequate range of focus. Synchrony has done extremely well in studies to date, beating Alcon's ReSTOR multifocal, for example, with superior visual acuity at all points except very close range. Synchrony has been demonstrated to move with accommodation (focusing) up to five years after implantation, and to help maintain a clean lens capsule. This acquisition represents a strong move and powerful statement from Abbott. I feel the winds in California -- and their blowing from Chicago!
Mark Packer, MD consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
