Alcon buys US eye surgery maker Ivantis for $ 475 million

Swiss-US medical company Alcon has announced an agreement to acquire the Californian company Ivantis for an initial consideration of $ 475 million (€ 411 million).

Alcon, which specializes in eye care, highlighted the development and manufacture by Ivantis of Hydrus Microstent, a device for minimally invasive glaucoma surgery.

The deal is subject to regulatory approval and is expected to be finalized in the first quarter of 2022.

Reduced pressure

Ivantis claims that Hydrus Microstent lowers intraocular pressure during cataract surgery in 77% of patients.

It follows a five-year clinical study of the device that found a 60% reduction in the risk of having secondary invasive glaucoma surgeries compared to cataract surgery alone.

It is approved for use in conjunction with cataract surgery in the United States, and for stand-alone use or in conjunction with cataract surgery in the United Kingdom, Canada, Australia, Singapore and Germany.

Pay for luggage

The deal comes two months after Ivantis announcement he had settled a dispute with California-based ophthalmic medical technology company Glaukos Corp on the Microstent Hydrus.

Ivantis has agreed to pay Glaukos $ 60 million in two installments before the end of 2022, and a 10% royalty on all devices sold, manufactured or imported into the United States until April 26, 2025.

The companies also agreed not to sue for existing or closely related products in the future.

“While we have always believed that our pioneering technology does not infringe any valid claim of any of Glaukos’ patents, we are happy to put this distraction behind us,” said Ivantis General Manager Dave at the time. Van Meter.

Expanded portfolio

Alcon Chief Executive Officer David Endicott said today of the proposed acquisition: “Glaucoma is the second leading cause of blindness after cataracts, affecting more than 75 million people worldwide, with significant dissatisfied patients.

“This transaction will allow us to add a product of unique efficacy to our glaucoma portfolio around the world.

“Our global business footprint and development capabilities position us to build on the success of Ivantis and help even more patients see brilliantly with Hydrus Microstent. “

Read more: Wesfarmers acquires Australian Pharmaceutical Industries

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