Alcon Set to Acquire Lensar for $356M to Boost Cataract Tech Portfolio
Deal News | Mar 25, 2025 | EIN
Alcon, a major player in eye care solutions, has signed a merger agreement to acquire Lensar, a company specializing in cataract surgery technology. The acquisition, valued at around $356 million, is set to enhance Alcon's capabilities in femtosecond laser-assisted cataract surgery by integrating Lensar's advanced ALLY Robotic Cataract Laser Treatment System and Streamline software technology. Alcon will pay $14.00 per share in cash for Lensar's outstanding shares, with an additional contingent value right depending on the achievement of a procedural milestone, potentially raising the transaction value to $430 million. The acquisition awaits regulatory and stockholder approval and is expected to complete by mid-to-late 2025. This move aligns with Alcon's strategy to deliver cutting-edge technology on a global scale and improve surgical efficiencies. Advising Alcon in this deal are Lazard and Norton Rose Fulbright, while Lensar is being advised by Wells Fargo and Latham & Watkins. Lensar’s CEO highlights the opportunity to enhance surgeon capabilities through its AI-integrated laser system.
Sectors
- Healthcare Technology
- Medical Devices
Geography
- United States – The companies involved, Alcon and Lensar, are based in the United States, where the transaction and regulatory approvals are likely centered.
Industry
- Healthcare Technology – The article involves companies innovating in cataract surgery equipment and technology, a key area within healthcare technology.
- Medical Devices – The transaction focuses on advanced cataract surgery devices, positioning it squarely within the medical devices sector.
Financials
- $356 million – The value of the acquisition deal as per the merger agreement.
- $14.00 per share with an additional contingent right of $2.75 per share – Price Alcon agreed to pay per Lensar's outstanding shares in cash, with an additional contingent value.
- $430 million – Total potential consideration for the acquisition contingent on achieving a specific milestone.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Alcon | Acquiring Company | Company | A leading global healthcare company specializing in eye care products and equipment. |
| Lensar | Target Company | Company | A company specializing in advanced femtosecond laser technology for cataract surgery. |
| Lazard | Financial Advisor to Acquirer | Company | An advisory firm providing strategic, financial, and transaction advice to Alcon in this acquisition. |
| Norton Rose Fulbright | Legal Advisor to Acquirer | Company | A global law firm providing legal advisory services to Alcon. |
| Wells Fargo | Financial Advisor to Target | Company | A financial services company advising Lensar in the transaction. |
| Latham & Watkins | Legal Advisor to Target | Company | A law firm providing legal advisory services to Lensar. |
| David Endicott | CEO of Alcon | Person | The Chief Executive Officer of Alcon, commenting on the strategic benefits of the acquisition. |
| Nick Curtis | CEO of Lensar | Person | The Chief Executive Officer of Lensar, commenting on the technology benefits of the merger. |