Abbott Completes Acquisition of OptiMedica
ABBOTT PARK, Illinois, Aug. 19, 2013
ABBOTT PARK, Illinois, Aug. 19, 2013 /PRNewswire/ -- Abbott (NYSE: ABT) today
announced that it has completed its acquisition of OptiMedica Corporation, a
privately-held, Silicon Valley-based ophthalmic device company.
The acquisition expands Abbott's vision care business into the femtosecond
laser-assisted cataract surgery market. Most cataract procedures are performed
manually with the surgeon making incisions into the eye by hand. OptiMedica's
Catalys ^® Precision Laser System is designed to allow surgeons to replace
some of the technically demanding manual steps in cataract surgery with
precise, image-guided, femtosecond laser technology. A femtosecond laser can
be used to create an anterior capsulotomy, effect phacofragmentation, and make
a variety of incisions during cataract surgery. The Catalys laser system has
both CE Mark in Europe and clearance from the U.S. Food and Drug
"OptiMedica's Catalys system enhances Abbott's leadership position in vision
care with the addition of a state-of-the-art laser cataract technology to our
portfolio," said Murthy Simhambhatla, senior vice president, medical optics,
Abbott. "OptiMedica's technology combined with Abbott's global market
presence, offer the potential to provide advanced cataract treatment options
to more patients around the world."
Abbott acquired OptiMedica for $250 million, net of cash. Additional amounts
totaling up to $150 million will be payable upon completion of certain
development, regulatory and sales milestones.
About Abbott Medical Optics Abbott Medical Optics is focused on delivering
life-improving vision technologies to people of all ages. The company offers a
comprehensive portfolio of cataract, refractive and eye care products.
Products in the cataract line include monofocal and multifocal intraocular
lenses, phacoemulsification systems, viscoelastics, and related products used
in ocular surgery. Products in the refractive line include wavefront
diagnostic devices, femtosecond lasers and associated patient interface
devices; excimer laser vision correction systems and treatment cards. Products
in the eye care line include disinfecting solutions, enzymatic cleaners, lens
rewetting drops and artificial tears. For more information, please visit
About Abbott Abbott is a global healthcare company devoted to improving life
through the development of products and technologies that span the breadth of
healthcare. With a portfolio of leading, science-based offerings in
diagnostics, medical devices, nutritionals and branded generic
pharmaceuticals, Abbott serves people in more than 150 countries and employs
approximately 70,000 people.
Visit Abbott at www.abbott.com and connect with us on Twitter at @AbbottNews.
Private Securities Litigation Reform Act of 1995 – A Caution Concerning
Some statements in this news release may be forward-looking statements for
purposes of the Private Securities Litigation Reform Act of 1995. Abbott
cautions that these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
indicated in the forward-looking statements. Economic, competitive,
governmental, technological and other factors that may affect Abbott's
operations are discussed in Item 1A, "Risk Factors," to our Annual Report on
Securities and Exchange Commission Form 10-K/A for the year ended Dec. 31,
2012, and are incorporated by reference. Abbott undertakes no obligation to
release publicly any revisions to forward-looking statements as a result of
subsequent events or developments, except as required by law.
Contact: Media: Steve Chesterman, +1-714-247-8711, or Financial: Tina Ventura,
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