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Los Angeles Times
11 hours ago
- Business
- Los Angeles Times
Lake Forest-based Staar Surgical to be Acquired in $1.5-Billion Transaction
Global eye care company Alcon announced the acquisition of Lake Forest-based Staar Surgical Co. in a transaction with a total equity value of approximately $1.5 billion. Under the terms of the agreement, Alcon will purchase all outstanding shares of Staar common stock for $28 per share in cash, which represents approximately a 59% premium to the company's 90-day volume-weighted average price and a 51% premium to the closing price of Staar common stock on August 4 when the deal was first announced. 'With the number of high myopes rising globally, the acquisition of Staar enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as Lasik,' said David Endicott, chief executive of Alcon, in a statement. 'This transaction will allow us to provide treatment options across the full spectrum of myopia from contact lenses to surgical interventions.' An estimated 50% of the world will be myopic by 2050, and today nearly 500 million people are considered high myopes. Staar manufactures a family of contact lenses for vision correction for patients with moderate to high myopia (nearsightedness), with or without astigmatism. The transaction is not subject to a financing condition. Alcon intends to finance the transaction through the issuance of short- and long-term credit facilities. It is anticipated to close in approximately six to 12 months. The boards of directors of Alcon and Staar have each unanimously approved the transaction. Morgan Stanley & Co. LLC is serving as financial advisor to Alcon, and Gibson Dunn & Crutcher LLP is serving as legal advisor to Alcon. Citi is serving as financial advisor to Staar, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Staar. Information for this article was sourced from Staar Surgical Co.
Yahoo
05-08-2025
- Business
- Yahoo
Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition
On Tuesday, the eye care company Alcon Plc (NYSE:ALC) agreed to acquire STAAR Surgical Company (NASDAQ:STAA), the manufacturer of the implantable collamer lens (ICL). The acquisition includes the EVO family of lenses (EVO ICL) for vision correction for patients with moderate to high myopia (nearsightedness), with or without astigmatism. Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash, which represents approximately a 59% premium to STAAR's 90-day Volume Weighted Average Price (VWAP) and a 51% premium to the closing price of STAAR common stock on August 4, transaction represents a total equity value of approximately $1.5 billion. Alcon intends to finance the transaction by issuing short- and long-term credit facilities. The transaction is anticipated to close in approximately six to 12 months and is expected to be accretive to earnings in year two. 'With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,' said David Endicott, CEO of Alcon. An estimated 50% of the world will be myopic by 2050, and today, nearly 500 million people are considered high myopes. The EVO family of ICLs are implanted between the iris (the colored part of the eye) and the natural crystalline lens during a procedure that does not remove corneal tissue. This move follows Alcon's recent announcement in July regarding its intention to acquire LumiThera, Inc. and its Photobiomodulation (PBM) Device for dry age-related macular degeneration (AMD). Data from the LIGHTSITE I, II, and III clinical trials consistently showed that PBM treatments provide visual acuity improvement with no treatment-related serious adverse events reported. PBM received FDA de novo market authorization in November 2024 and CE Mark in November 2018. PBM is available in Europe, Latin America, Singapore, the U.K., and the U.S. The transaction does not include the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun off to LumiThera's shareholders before Alcon's acquisition and will continue to be marketed and sold by the LumiThera spin-off. Alcon and LumiThera anticipate the acquisition to be completed in the third quarter of 2025. Price Action: ALC stock is trading lower by 1.17% to $86.79 premarket, and STAA stock is trading higher by 44.9% to $26.78 at last check Tuesday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? STAAR SURGICAL (STAA): Free Stock Analysis Report This article Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-08-2025
- Business
- Yahoo
Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition
On Tuesday, the eye care company Alcon Plc (NYSE:ALC) agreed to acquire STAAR Surgical Company (NASDAQ:STAA), the manufacturer of the implantable collamer lens (ICL). The acquisition includes the EVO family of lenses (EVO ICL) for vision correction for patients with moderate to high myopia (nearsightedness), with or without astigmatism. Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash, which represents approximately a 59% premium to STAAR's 90-day Volume Weighted Average Price (VWAP) and a 51% premium to the closing price of STAAR common stock on August 4, transaction represents a total equity value of approximately $1.5 billion. Alcon intends to finance the transaction by issuing short- and long-term credit facilities. The transaction is anticipated to close in approximately six to 12 months and is expected to be accretive to earnings in year two. 'With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,' said David Endicott, CEO of Alcon. An estimated 50% of the world will be myopic by 2050, and today, nearly 500 million people are considered high myopes. The EVO family of ICLs are implanted between the iris (the colored part of the eye) and the natural crystalline lens during a procedure that does not remove corneal tissue. This move follows Alcon's recent announcement in July regarding its intention to acquire LumiThera, Inc. and its Photobiomodulation (PBM) Device for dry age-related macular degeneration (AMD). Data from the LIGHTSITE I, II, and III clinical trials consistently showed that PBM treatments provide visual acuity improvement with no treatment-related serious adverse events reported. PBM received FDA de novo market authorization in November 2024 and CE Mark in November 2018. PBM is available in Europe, Latin America, Singapore, the U.K., and the U.S. The transaction does not include the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun off to LumiThera's shareholders before Alcon's acquisition and will continue to be marketed and sold by the LumiThera spin-off. Alcon and LumiThera anticipate the acquisition to be completed in the third quarter of 2025. Price Action: ALC stock is trading lower by 1.17% to $86.79 premarket, and STAA stock is trading higher by 44.9% to $26.78 at last check Tuesday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? STAAR SURGICAL (STAA): Free Stock Analysis Report This article Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-08-2025
- Business
- Yahoo
Alcon strikes $1.5bn deal to acquire ailing rival STAAR Surgical
Alcon has agreed to acquire struggling rival eyecare specialist STAAR Surgical in an equity deal valued at around $1.5bn. The deal equates to the buyout of STAAR's outstanding stock at $28 per share and will avail Alcon of STAAR's EVO Implantable Collamer Lens (ICL) portfolio. STAAR's EVO ICLs address vision correction for conditions including myopia with and without astigmatism via a minimally invasive, reversible procedure that does not remove corneal tissue. Research estimates that 500 million individuals globally are currently considered 'high myopes', with 50% of the global population projected to be myopic to some extent by 2050. Alcon said the addition of STAAR's EVO ICL will complement its laser vision correction business and positively impact profit margins from year two post-transaction. The deal is expected to close within six to 12 months, pending customary closing conditions. Alcon CEO David Endicott commented: 'With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK. 'This transaction will allow us to provide treatment options across the full spectrum of myopia – from contact lenses to surgical interventions – reinforcing our commitment to addressing the most significant needs in eye care.' Alcon's acquisitive streak and the culmination of STAAR's market challenges The STAAR buyout marks the latest deal in what has been an acquisitive year for Alcon. In March, the Swiss-headquartered company acquired Lensar in a deal valued at around $356m, gaining access to Lensar's ALLY robotic cataract laser treatment system, which Alcon expects to enhance the capabilities of its femtosecond laser-assisted cataract surgery (FLACS) technology. Last month, Alcon announced plans to acquire LumiThera in a deal set to give it control of the US-based company's photobiomodulation device for treating early and intermediate dry age-related macular degeneration (AMD). For STAAR, the Alcon acquisition puts a stopper on a challenging period for the company. STAAR's Q1 2025 financials revealed a 45% decline in sales to $42.6m, down from $77.4m in Q1 2024. The California-based company chiefly attributed the decline to weakened demand in China and additional headwinds due to Chinese Government initiatives affecting device procurement. To steady the ship, STAAR revealed plans for a $30m share buyback programme in May to account for volatility in the global macroeconomic environment. Commenting on the Alcon acquisition, STAAR CEO Stephen Farrell acknowledged that China headwinds had significantly impacted its viability as a standalone company. Farrell said: 'We believe the transaction with Alcon represents the best path forward and provides the greatest value for STAAR shareholders.' STAAR's view on the Chinese procurement market is likely about the country's procurement practices for foreign entities. In June, the European Union (EU) voted to ban Chinese companies from participating in public procurement tenders in the bloc's medical device sector for contracts valued over €5m ($5.72m) after an EU investigation found that fair access to foreign companies for public tenders in China was not reciprocated. "Alcon strikes $1.5bn deal to acquire ailing rival STAAR Surgical" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-08-2025
- Business
- Business Wire
Alcon Agrees to Acquire STAAR Surgical
GENEVA & LAKE FOREST, Calif.--(BUSINESS WIRE)--Regulatory News: Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, and STAAR Surgical Company (NASDAQ: STAA), the manufacturer of the Implantable Collamer ® Lens (ICL), today announced the companies have entered into a definitive merger agreement through which Alcon intends to acquire STAAR. The acquisition includes the EVO family of lenses (EVO ICL™) for vision correction for patients with moderate to high myopia (nearsightedness), with or without astigmatism. Under the terms of the agreement, Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash, which represents approximately a 59% premium to STAAR's 90-day Volume Weighted Average Price (VWAP) and a 51% premium to the closing price of STAAR common stock on August 4, 2025. The transaction represents a total equity value of approximately $1.5 billion. 'With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,' said David Endicott, CEO of Alcon. 'This transaction will allow us to provide treatment options across the full spectrum of myopia—from contact lenses to surgical interventions—reinforcing our commitment to addressing the most significant needs in eye care.' An estimated 50% of the world will be myopic by 2050 and today nearly 500 million people are considered high myopes. 1 With its innovative design, the EVO family of ICLs are implantable lenses that address a wide range of vision correction needs, including myopia with and without astigmatism, through a minimally invasive procedure that is reversible. The EVO family of ICLs are implanted between the iris (the colored part of the eye) and the natural crystalline lens during a procedure that does not remove corneal tissue. 'We believe the transaction with Alcon represents the best path forward and provides the greatest value for STAAR shareholders,' said Stephen Farrell, CEO of STAAR. 'As we've shared, fluctuating demand in China over the past two years has continued to create significant headwinds for STAAR as a standalone company. I'm proud of our team's efforts to address recent challenges, but there is more work to do. As a significantly larger company, Alcon has the capabilities and scale to accelerate EVO ICL adoption and bring our innovative technology to more surgeons and patients worldwide.' Dr. Elizabeth Yeu, Chair of the STAAR Board of Directors, said, 'The STAAR Board is committed to maximizing value for shareholders. We have determined that this carefully negotiated transaction is in the best interest of STAAR shareholders as it delivers immediate and certain value at a significant premium, value that exceeds what we believe could be achieved under STAAR's standalone strategy.' The transaction is not subject to a financing condition. Alcon intends to finance the transaction through the issuance of short- and long-term credit facilities. The transaction is anticipated to close in approximately six to 12 months, subject to customary closing conditions, including regulatory approval and approval by STAAR's shareholders. The transaction is expected to be accretive to earnings in year two. The Boards of Directors of Alcon and STAAR have each unanimously approved the transaction. Morgan Stanley & Co. LLC is serving as financial advisor to Alcon, and Gibson, Dunn & Crutcher LLP is serving as legal advisor to Alcon. Citi is serving as the exclusive financial advisor to STAAR, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to STAAR. As previously announced, STAAR will release financial results for its second quarter that ended June 27, 2025, on Wednesday, August 6, 2025, after the market close. Given the pending acquisition by Alcon, STAAR will not host a conference call in conjunction with earnings. Forward-looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the potential transaction between Alcon and STAAR and the expected timing, impacts and benefits thereof, Alcon's and STAAR's business strategies, performance, market adoption and estimates of market size. In some cases, you can identify forward-looking statements by terms such as 'aim,' 'anticipate,' 'approach,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'goal,' 'intend,' 'look,' 'may,' 'mission,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'pursue,' 'should,' 'target,' 'will,' 'would,' or the negative thereof and similar words and expressions. Forward-looking statements are based on Alcon's and STAAR's management's current expectations, beliefs and assumptions and on information currently available to us. Such statements are subject to a number of known and unknown risks, uncertainties and assumptions. The following factors could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: (i) the proposed merger may not be completed in a timely manner or at all, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect STAAR or the expected benefits of the proposed merger or that the approval of STAAR's stockholders is not obtained; (ii) the failure to realize the anticipated benefits of the proposed merger; (iii) the possibility that competing offers or acquisition proposals for STAAR will be made; (iv) risks that third parties and/or STAAR stockholders may oppose consummation of the proposed merger on the proposed terms or at all; (v) the possibility that any or all of the various conditions to the consummation of the merger may not be satisfied or waived (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger, including in circumstances which would require either party to pay a termination fee; (vii) the effect of the announcement or pendency of the merger on STAAR's ability to retain and hire key personnel, STAAR's ability to retain key customers, suppliers or distributors or its operating results and business generally, (viii) there may be liabilities related to the merger that are not known, probable or estimable at this time or unexpected costs, charges or expenses; (ix) the merger may result in the diversion of management's time and attention to issues relating to the merger; (x) there may be significant transaction costs in connection with the merger; (xi) legal proceedings may be instituted against STAAR following the announcement of the merger, which may have an unfavorable outcome; and (xii) STAAR's stock price may decline significantly if the merger is not consummated. In addition, a number of other important factors could cause actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements, including but not limited to those important factors discussed under the heading 'Risk Factors' contained in Alcon's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 and in STAAR's Annual Report on Form 10-K for the fiscal year ended December 27, 2024, each as filed with the Securities and Exchange Commission ('SEC'), as such factors may be updated from time to time in such company's other filings with the SEC, accessible on the SEC's website at and the Investor Relations section of STAAR's website at and Alcon's website at All forward-looking statements are expressly qualified in their entirety by such factors. Except as required by law, neither Alcon nor STAAR undertake any obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise. These forward-looking statements should not be relied upon as representing Alcon's or STAAR's views as of any date subsequent to the date of this press release. About Alcon Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people's lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at About STAAR Surgical STAAR Surgical (NASDAQ: STAA) is the global leader in implantable phakic intraocular lenses, a vision correction solution that reduces or eliminates the need for glasses or contact lenses. Since 1982, STAAR has been dedicated solely to ophthalmic surgery, and for 30 years, STAAR has been designing, developing, manufacturing, and marketing advanced Implantable Collamer ® Lenses (ICLs), using its proprietary biocompatible Collamer material. STAAR ICL's are clinically-proven to deliver safe long-term vision correction without removing corneal tissue or the eye's natural crystalline lens. Its EVO ICL™ product line provides visual freedom through a quick, minimally invasive procedure. STAAR has sold more than 3 million ICLs in over 75 countries. Headquartered in Lake Forest, California, the company operates research, development, manufacturing, and packaging facilities in California and Switzerland. For more information about ICL, visit To learn more about STAAR, visit Important Safety Information for the EVO Family of ICLs The EVO Visian ICL Lens is intended for the correction of moderate to high nearsightedness. EVO Visian ICL and EVO Visian TICL surgery is intended to safely and effectively correct nearsightedness between -3.0 D to -15.0 D, the reduction in nearsightedness up to -20.0 D and treatment of astigmatism from 1.0 D to 4.0 D. If patients have nearsightedness within these ranges, EVO Visian ICL surgery may improve distance vision without eyeglasses or contact lenses. Because the EVO Visian ICL corrects for distance vision, it does not eliminate the need for reading glasses, patients may require them at some point, even if they have never worn them before. Implantation of the EVO Visian ICL is a surgical procedure, and as such, carries potentially serious risks. Patients should discuss the risks with their eye care professional. Complications, although rare, may include need for additional surgical procedures, inflammation, loss of cells from the back surface of the cornea, increase in eye pressure, and cataracts. For additional information with potential benefits, risks and complications please visit Additional Information This press release may be deemed solicitation material in respect of the proposed acquisition of STAAR. A special stockholder meeting will be announced soon to obtain stockholder approval in connection with the proposed merger. STAAR expects to file with the SEC a proxy statement and other relevant documents in connection with the proposed merger. Investors of STAAR are urged to read the definitive proxy statement and other relevant materials carefully and in their entirety when they become available because they will contain important information about the Company and the proposed merger. Investors may obtain a free copy of these materials (when they are available) and other documents filed by STAAR with the SEC at the SEC's website at and at STAAR's website at No Offer or Solicitation This communication is for informational purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Participants in the Solicitation Alcon, STAAR and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the proposed merger. Information regarding Alcon's directors and executive officers is contained in Alcon's annual report on Form 20-F for its fiscal year ended December 31, 2024, which was filed with the SEC on February 25, 2025. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of STAAR's stockholders in connection with the proposed merger will be set forth in STAAR's definitive proxy statement for its special stockholder meeting. Additional information regarding these individuals and any direct or indirect interests they may have in the proposed merger will be set forth in the definitive proxy statement when and if it is filed with the SEC in connection with the proposed merger. Global Prevalence of Myopia and High Myopia and Temporal Trends from 2000 through 2050. Brien A Holden at al. Ophthalmology. 2016 May;123(5):1036-42. Connect with us on Facebook LinkedIn
