Alcon Strengthens Surgical Glaucoma Portfolio With $475M Ivantis Deal

Alcon AG ALC has agreed to acquire Ivantis Inc for $475 million.
Alcon may be required to make additional contingent payments upon the achievement of certain regulatory and commercial milestones.
Ivantis is a developer and manufacturer of Hydrus Microstent, a minimally-invasive glaucoma surgery (MIGS) device designed to lower intraocular pressure for open-angle glaucoma patients in connection with cataracts surgery.
The FDA approved Hydrus Microstent in August 2018 for use with cataract surgery.
In the U.K., Canada, Australia, Singapore, and Germany, the MIGS device is indicated for primary open-angle glaucoma in conjunction with cataract surgery or a stand-alone procedure.
The transaction will close in Q1 of 2022.
Price Action: ALC shares closed at $85.61 on Friday.