Alcon picks up WaveLight
This article was originally published in The Gray Sheet
Ophthalmic device maker Alcon expands its refractive laser business via the $90 million purchase of German firm WaveLight, announced July 16. WaveLight's Allegretto refractive eye laser "offers the fastest ablation speed on the market today," Alcon notes. The purchase will "provide additional clinical solutions and laser technology to better support our cataract and refractive customers," the firm explains. Alcon, which offers the Ladar6000 excimer laser and CustomCornea wavefront system for custom ablation procedures, issued a safety alert on the system in February and has initiated corrective action to address the potential for "central islands" following custom myopia laser procedures (1"The Gray Sheet" April 30, 2007, p. 6). Wachovia analyst Larry Biegelsen notes in a July 16 report that he expects Alcon to adopt Allegretto as its flagship eye laser following the acquisition. The deal also makes Alcon the second largest laser refractive franchise behind Advanced Medical Optics, Biegelsen says. Under the terms of the deal, Alcon will pay about $13.80 per share for WaveLight, a roughly 15% premium over its July 13 closing price of $12.00...
You may also be interested in...
Alcon intraocular lens sales growth in the first quarter helped offset declining ophthalmic laser revenue and drive overall surgical device sales ahead 10.6% to $580.7 million in Q1, the firm reported April 25
A randomized COVID-19 study spanning the whole of the UK could help to bolster the UK’s reputation as a location for future clinical trials. It is also being seen partly as the result of the UK regulator's "decisive action" in fast-tracking trials for potential COVID-19 therapies.
Manufacturers of endoscopic equipment, biofeedback devices and thermometers were among those cited for regulatory violations in US FDA warning letters this week. A total of four device-related enforcement missives were released by the agency.