Abbott Labs has announced that it is acquiring Advanced Medical Optics (AMO), according to a press release from Abbott.
Abbott will acquire AMO, a leader in ophthalmic care, for $22 per share in cash, for a total transaction value of approximately $2.8 billion.
"Through superior vision care technologies and service, AMO has established itself as a leader in this multi-billion dollar medical device segment," said Miles White, chairman and CEO of Abbott in the press release. "With AMO, Abbott is enhancing and strengthening its diverse mix of medical device businesses and gaining a leadership position in another large and growing segment."
Read the press release about the Abbott acquisition of AMO.