B+L gains option to acquire joint venture Technolas
This article was originally published in Clinica
Executive Summary
Bausch + Lomb now has the option to purchase in full its joint venture, Technolas Perfect Vision (TPV), which it set up with German femtosecond laser manufacturer 20/10 Perfect Vision. Under the terms of the agreement, B&L will acquire all outstanding and unowned shares of TPV for up to €450m ($622m), based on the achievement of certain milestones and earnouts. TPV was formed in 2009 to develop excimer and femtosecond laser technology for treating presbyopia and restoring the ability to accommodate and focus on near objects (www.clinica.co.uk, 1 May 2009). In March, B&L gained global distribution rights to a femtosecond laser for eye surgery developed by TVP for an undisclosed fee (www.clinica.co.uk, 28 March 2011). TPV has already filed a 510(k) application with the US FDA for the laser, and anticipates approval "in the coming months", a B+L spokesperson told Clinica. It also plans to CE mark the device for sale in Europe by the end of the year.