Portfolio Press Release
LenSx Lasers, Inc. Announces Acquisition by Alcon Labs, Inc.
LenSx Lasers, Inc. Press Release
6 July 2010
ALISO VIEJO, California — LenSx® Lasers, Inc. announced today that it has entered into a definitive agreement to be acquired by Alcon Labs, Inc. LenSx shareholders will receive $361.5 million in cash at closing for their shares, plus up to $382.5 million based upon the achievement and over-achievement of future femtosecond laser and procedure fee revenue milestones. The closing of the acquisition is subject to receipt of required regulatory approvals and customary closing conditions.
LenSx President and CEO, Dr. Ronald Kurtz said "This acquisition further strengthens patient choice in cataract surgery while offering new opportunities for ophthalmic surgeons and surgical centers world-wide."
"LenSx technology is positioned to deliver a new era in refractive cataract surgery," stated Eric Weinberg, LenSx Chief Commercial Officer. "We are thrilled to partner with Alcon to deliver this technology globally, supported by world-class customer care."
Clinical experience with the LenSx laser began in 2008 with Prof. Dr. Zoltan Nagy of Semmelweis University in Budapest, Hungary. According to Stephen G. Slade, M.D., who performed the initial series of LenSx® laser procedures in the United States, "With this laser we have seen a more exact size, shape and centration of the capsulotomy and precise centering of the intraocular lens, giving us the potential to deliver improved post-surgical refractive outcomes to our patients. I have also been able to reduce the energy required — further enhancing cataract surgery by providing a safe and more accurate refractive outcome."
LenSx Chairman, Dr. William Link said, "The LenSx team has worked very hard to develop this amazing technology and is committed to delighting surgeons and cataract patients worldwide as part of the premier Alcon organization."
About LenSx Lasers
LenSx Lasers, Inc. is a privately-held, venture backed company located in Aliso Viejo, California. Venture capital investors are Versant Ventures, SV Life Sciences, InterWest Partners and Venture Investors. For more information on LenSx Lasers, Inc., visit the Company's website at www.lensxlasers.com.
