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Abbott closes OptiMedica buyout

Mon, 08/19/2013 - 10:52am
Mass Device

Abbott says it's closed the buyout of cataract laser surgery device maker OptiMedica that's worth up to $400 million.

Abbott closes OptiMedica buyout

Abbott (NYSE:ABT) said it closed the buyout of OptiMedica Corp. it announced in July, paying $250 million up front with another $150 million on the table if development, regulatory and sales milestones are met.

The buyout expands the Chicago-area healthcare giant's Abbott Medical Optics ophthalmology unit by adding femtosecond laser-assisted cataract surgery to its portfolio.

OptiMedica makes the Catalys precision laser system, which won FDA clearance in December 2011 and CE Mark approval in the European Union in August 2011, CEO Mark Forchette told MassDevice.com last year.

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