Alcon Reaches $ 475 Million Deal to Acquire U.S. Eye Surgery Company Ivantis

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ZURICH, November 8 (Reuters)Alcon ALCC.S agreed to buy Ivantis, the maker of a small stent to treat glaucoma, for an initial amount of $ 475 million, the Swiss eye care company said on Monday.

Private company Ivantis Hydrus Microstent manufactures a minimally invasive glaucoma surgery (MIGS) device designed to lower intraocular pressure in patients with open-angle glaucoma undergoing cataract surgery.

The microstent, roughly the size of an eyelash, reduces eye pressure by restoring flow through Schlemm’s canal, the eye’s natural flow pathway, Alcon said.

Glaucoma is the second leading cause of blindness after cataracts, aeffect more than 75 million people in the world, It added.

The Swiss company, born out of Novartis NOVN.S in 2019, said the deal with California-based Ivantis bolstered its portfolio of treatments for patients with cataracts, refraction, retina and glaucoma.

He cited a study showing that 65% of Hydrus Microstent patients remained drug-free five years after stent implantation.

Alcon has said it may be required to make additional payments upon completion of certain regulatory and business milestones.

The transaction is expected to close in the first quarter of 2022 subject to customary closing conditions, including regulatory approval, he added.

(Reporting by John Revill; Editing by Kim Coghill)

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