Bausch + Lomb grabs German ophthalmology laser company
Bausch + Lomb just completed its buyout of a German ophthalmology laser company even as the eye-care giant itself remains an acquisition target.
The Rochester, NY, operation is now the proud new owner of Technolas Perfect Vision GmbH and has already planned to change its name to Bausch + Lomb Technolas. Neither side disclosed financial terms of the agreement, which they first disclosed in November. Bausch + Lomb isn't acquiring a company out of the blue, though; Technolas Perfect Vision debuted in 2009 as a joint venture between itself and 20/10 Perfect Vision AG. The operation developed and sold advanced refractive and cataract tech, and it will now become part of Bausch + Lomb's surgical business.
So why pursue the deal? Bausch + Lomb certainly can diversify its product line. But current owner Warburg Pincus may also be beefing up the company for acquisition. Johnson & Johnson ($JNJ), Merck ($MRK), Abbott Laboratories ($ABT) and Sanofi ($SNY), among other Big Pharma companies, are said to have expressed interested in buying out the eye-care giant. (The rumored price tag: around $10 billion.)
Before they make an offer, executives seeking to make a bid may want to consider some recent blemishes on the company's record. Among them: Bausch + Lomb is dealing with a Class I recall from the FDA over cannulas shipped with its eye surgery devices because of a risk they may leak or break during procedures.
- read the release