OptiMedica deal adds laser-assisted eye surgery to Abbott portfolio

Abbott said Monday that it has completed the $250 million acquisition of OptiMedica Corp., a privately held ophthalmic device company based in the Silicon Valley.

The deal broadens Abbott’s vision care business into the laser-assisted cataract surgery market. In most cataract surgeries, the surgeon makes incisions into the eye by hand, Abbott said. OptiMedica’s Catalys Precision Laser System allows surgeons to replace some of the manual steps with an image-guided laser.

Beyond the $250 million purchase price, Abbott has agreed to pay up to an additional $150 million upon completion of certain development, regulatory and sales milestones.

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