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Abbott to pay up to USD400m for OptiMedica.


15 July 2013 a[euro]" US healthcare company Abbott Laboratories (NYSE:ABT) on Monday unveiled it will take over Silicon Valley-based ophthalmic device firm OptiMedica Corp for up to USD400m (EUR307m), net of cash.

OptiMedica has developed a system that enables surgeons to substitute some of the technically demanding manual steps in cataract surgery with a computer-guided, femtosecond laser technology. Its acquisition will allow Abbott to expand its vision care operations into the femtosecond laser-assisted cataract surgery market.

The total amount includes a price of USD250m and up to USD150m of additional payments to be made once certain development, regulatory or sales milestones are reached, the buyer said. The transaction is scheduled for completion by the end of the year, subject to certain antitrust approvals. It will not impact Abbott's ongoing annual EPS guidance.

Also today, Abbott announced it will acquire medical devices developer IDEV Technologies for USD310m net of cash and debt.Country: USASector: HealthcareTarget: OptiMedica CorpBuyer: Abbott LaboratoriesDeal size in USD: 400mType: Corporate acquisitionStatus: Agreed

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Publication:M & A Navigator
Date:Jul 15, 2013
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