Abbott to acquire OptiMedica

Abbott has agreed to purchase Silicon Valley-based ophthalmic device maker OptiMedica Corporation for $250 million in cash and additional milestone payments of up to $150 million. OptiMedica’s Catalys femtosecond laser system has both the CE Mark in Europe and clearance from the FDA.

The Catalys includes a femtosecond laser, integrated 3-D optical coherence tomography imaging, and pattern scanning technology. It is indicated for anterior capsulotomy, phacofragmentation, and creation of single and multi-plane arc incisions in the cornea.

"The acquisition of OptiMedica will provide Abbott with an entry point into the rapidly developing laser cataract surgery market," said Murthy Simhambhatla, Abbott’s senior vice president of Medical Optics. "The Catalys laser system provides physicians with a state-of-the-art, computer-guided alternative in treating patients suffering from cataracts."

The transaction is expected to close by the end of the year and will not impact Abbott's ongoing full-year 2013 earnings-per-share guidance.