BUSINESS WIRE
HUENENBERG, Switzerland, Jul 06, 2010 (BUSINESS WIRE) --
Alcon, Inc. (NYSE: ACL)
announced today that it has entered into a definitive agreement to
acquire LenSx Lasers, Inc, a privately held company that developed the
first femtosecond laser to receive U.S. Food and Drug Administration
(FDA) clearance for use as a part of cataract surgery. The LenSx system
is indicated for anterior capsulotomy and laser phacofragmentation
during cataract surgery, providing a complementary surgical approach to
certain manual steps within the traditional cataract procedure.
Alcon will pay US $361.5 million in cash at closing to LenSx
shareholders for their shares, plus maximum contingent payments of US
$382.5 million based upon the achievement and over-achievement of future
femtosecond unit and procedure fee revenue milestones. The closing of
this acquisition is subject to receipt of required regulatory approvals
and customary closing conditions.
The innovative LenSx laser platform enables surgeons to perform some of
the most delicate manual steps of cataract surgery with image-guided
visualization and micron level laser precision. The LenSx laser enhances
a surgeon's ability to predictably create a well centered anterior
capsulorhexis of exact diameter, and to effectively fragment the lens
for removal with minimized phaco time and power.
"This complementary technology aligns with Alcon's strategic focus to
help surgeons improve every step of the cataract procedure. The LenSx
laser provides surgeons a new level of predictability and control over
critical manual steps during cataract removal - making those steps more
precise and reliable," said Stuart Raetzman, vice president, Global
Marketing and area president for the United States.
"The LenSx femtosecond laser has been designed to advance the precision
and reproducibility of key manual portions of the cataract procedure,
something we have seen lasers do repeatedly in other ophthalmic
procedures," said Stephen Slade, M.D., Slade and Baker Vision, Houston,
TX, who performed the initial series of LenSx laser procedures in the
United States. "This laser delivered improved post-surgical refractive
outcomes for my patients with a more exact size, shape and centration of
the capsulotomy and precise centering of the intraocular lens. I was
able to reduce the phacoemulsification energy and time - further
enhancing cataract surgery by providing a safe and more accurate
refractive outcome. From a patient's perspective, I have never seen the
potential benefits of a technology so quickly understood and accepted."
About Cataract Surgery
Cataracts are the world's leading cause of treatable blindness and
cataract surgery is the most frequently performed ophthalmic procedure
globally. A cataract cannot be prevented and is a "clouding" of the
eye's natural lens, which results in blurred or defocused vision.
Cataract surgery is a simple operation where a surgeon removes the eye's
clouded natural lens and replaces it with an artificial intraocular
lens. Femtosecond lasers have been used for more than 3 million LASIK
refractive surgical procedures and now the LenSx laser system brings
laser technology to cataract surgery for the first time.
About Alcon
Alcon, Inc. is the world's leading eye care company, with sales of
approximately $6.5 billion in 2009. Alcon, which has been dedicated to
the ophthalmic industry for 65 years, researches, develops, manufactures
and markets pharmaceuticals, surgical equipment and devices, contacts
lens solutions and other vision care products that treat diseases,
disorders and other conditions of the eye. Alcon operates in 75
countries and sells products in 180 markets. For more information on
Alcon, Inc., visit the Company's web site at www.alcon.com.
About LenSx Lasers, Inc.
LenSx Lasers, Inc. is a privately held venture backed company located in
Aliso Viejo, California. Venture capital investors are Versant Ventures,
SV Life Sciences, InterWest Partners and Venture Investors.
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United States Private Securities Litigation Reform Act of 1995.Any
forward-looking statements reflect the views of our management as of the
date of this press release with respect to future events and are based
on assumptions and subject to risks and uncertainties. Given these
uncertainties, you should not place undue reliance on these
forward-looking statements. Except to the extent required under the
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Securities and Exchange Commission, we undertake no obligation to
publicly update or revise any of these forward-looking statements,
whether to reflect new information or future events or circumstances or
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