Abbott to acquire OptiMedica and enter laser-assisted cataract surgery market

Abbott announced yesterday that it will be acquiring OptiMedica Corporation, a privately held ophthalmic device company. This will enable the leading global health care company to enter the laser-assisted cataract surgery market.

OptiMedica, a company dedicated to developing performance-driven technologies that improve patient outcomes, will be acquired for $250 million, plus additional payments totaling up to $150 million upon completion of certain milestones.

"The acquisition of OptiMedica will provide Abbott with an entry point into the rapidly developing laser cataract surgery market."

Murthy Simhambhatla, senior vice president, Medical Optics, Abbott.

The acquisition is expected to be completed by the end of this year.