Chiron Vision completes acquisition of IOLAB surgical division.EMERYVILLE, Calif.--(BUSINESS WIRE)--March 31, 1995--Chiron Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHIR CHIR Chiricahua National Monument (US National Park Service) ) announced today that its Chiron Vision business has completed the acquisition of the IOLAB ophthalmic surgical division from Johnson & Johnson for approximately $95 million in cash. IOLAB operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada will be transferred immediately while operations in other countries will be transferred shortly thereafter. Chiron Vision will be relocating its corporate headquarters from Irvine, Calif., to IOLAB facilities in Claremont, Calif., and has begun a global restructuring of the combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
"The combination of Chiron Vision and IOLAB into a single organization with a broader product line and greater capabilities will deliver increased value to our customers, the ophthalmic surgeons," said William J. Link, Ph.D., chief executive officer of Chiron Vision. "We plan a smooth transition in the market." Chiron Corp., headquartered in Emeryville, applies biotechnology and other techniques of modern biology and chemistry to develop products intended to improve the quality of life by diagnosing, preventing and treating human disease. Chiron participates in four markets: diagnostics, including immunodiagnostics, critical care diagnostics and quantitative bDNA probe tests, therapeutics for cancer and infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. , adult and pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. vaccines, and ophthalmic instruments and devices used for the surgical correction of vision. A fifth business, Chiron Technologies, manages development of new technologies from the company's research including a new generation of chemical therapeutics being developed through advanced techniques of drug design and discovery, and a program in gene therapy. CONTACT: Chiron Corp., Emeryville Larry Kurtz, 510/601-2476 |
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