Abbott Finishes Visiogen Acquisition

Abbott has completed its acquisition of eye-care company Visiogen for $400 million in cash, expanding the firm’s vision care business with intraocular lens technology.

Visiogen’s Synchrony-accommodating intraocular lens is designed to mimic the eye’s natural ability to change focus, delivering improved vision at all distances, potentially eliminating the need for glasses or contact lenses, reducing glare and nighttime halos and improving contrast sensitivity. Visiogen is based in Irvine, Calif.

Abbott, based in Abbott Park, Ill., first entered the vision-care segment when it purchased Advanced Medical Options in February and formed Abbott Medical Optics, which offers a range of cataract, refractive and corneal products designed to meet the needs of patients who suffer from a wide range of vision.

“Visiogen immediately provides Abbott Medical Optics with a talented team of dedicated professionals and an entry point into the accommodating IOL market,” said Jim Mazzo, senior vice president, Abbott Medical Optics. “The innovative Synchrony accommodating IOL expands our diverse portfolioof cataract treatments and allows Abbott the opportunity to help the more than 1 billion people worldwide suffering from presbyopia,” he added.

Synchrony is currently under review by the U.S. Food and Drug Administration.