ALPHAEON Pays $59 Million Cash For LensAR
Tuesday, November 17, 2015
IRVINE, Calif., Nov. 16, 2015 /PRNewswire/ — ALPHAEON Corporation today announced the execution of a definitive agreement to acquire substantially all the assets of LENSAR, Inc., a leading global developer and manufacturer of Femtosecond Lasers Systems (FLS), through a wholly owned subsidiary. The transaction is valued at up to $59 million in cash, stock and assumed debt. The transaction is subject to the completion of certain closing conditions on or before December 31, 2015.
The LENSAR® Laser System was designed for patients seeking a premium vision outcome following the removal of their crystalline lens. With this announcement, ALPHAEON expands its global ophthalmology business, and enables the company to provide advanced technology to its broad network of more than 2,000 board-certified ophthalmologists globally.
“LENSAR has advanced the self-pay category of precision refractive surgery both for ophthalmologists as well as their patients,” said Robert E. Grant, CEO of ALPHAEON. “The addition of LENSAR to our lifestyle product portfolio will provide ophthalmologists with another alternative to expand their offering to patients. We are very pleased at the opportunity to welcome LENSAR employees to our expanding global team.”
“The opportunity to partner with ALPHAEON furthers LENSAR’s commitment to provide ophthalmologists everywhere with the latest developments in premium vision surgery,” said Nick Curtis, CEO of LENSAR. “We’re excited with the chance to join ALPHAEON, and together leverage our proprietary platform technology to develop new clinical innovations benefiting physicians and patients alike.”
LENSAR, Inc. is a commercial stage medical device company providing Femtosecond Laser technology for cataract treatment. Founded in 2004 and based in Orlando, FL, LENSAR developed the first femtosecond cataract laser to enable automation of several critical surgical procedure planning and delivering elements. For more information, visitwww.lensar.com.
About ALPHAEON Corporation
ALPHAEON Corporation is a social commerce company with the goal of transforming self-pay healthcare by bringing to market highly innovative products and services to promote consumer wellness, beauty and performance. The company works in partnership with board certified physicians ensuring access to leading advancements in lifestyle healthcare. For more information, please visit www.alphaeon.com.
Sarah Lilburn, Spark PR (for ALPHAEON)
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SOURCE ALPHAEON Corporation