Eye care surgical and vision care product company Alcon has entered into a definitive merger agreement with Staar Surgical, an ophthalmic surgery company and lens manufacturer.
In the agreement, Alcon will purchase all outstanding shares of Staar common stock for $28 per share, representing a total equity value of about $1.5 billion, according to an Aug. 5 news release from Alcon.
Alcon will acquire Staar’s EVO ICL lenses for vision correction for individuals with moderate to high myopia.
The transaction is expected to close in six to 12 months and is projected to be accretive to earnings in year two, the release said.
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