Johnson & Johnson (J&J) has completed the acquisition of Abbott Medical Optics (AMO) for about $4.32bn.
The companies have first announced the deal in September 2016.
As part of the deal, J&J has acquired ophthalmic products in three areas, comprising of cataract surgery, laser refractive surgery and consumer eye health.
The acquired business compliments J&J’s Acuvue brand contact lenses business. Johnson & Johnson Vision (J&J Vision) is the new name of the combined organization.
Based in Jacksonville of Florida and Santa Ana of California, J&J Vision carries out operations in around 103 countries.
AMO manufactures intraocular lenses used in cataract surgery and laser vision (LASIK) technologies to correct near sightedness, far sightedness and astigmatism.
The company also produces refractive technologies to treat patients with presbyopia, as well as cataract and spherical aberration.
In addition, the deal included the acquisition of AMO’s consumer eye health products such as over-the-counter drops for dry eye, multipurpose solutions and hydrogen peroxide cleaning systems for patients who wear contact lenses.
Johnson & Johnson Consumer Medical Devices company group chairman Ashley McEvoy said: “With the addition of AMO’s world-renowned ophthalmic surgery business, J&J Vision is poised to become a world leader in eye health.
“Sight is precious, it’s the sense people fear losing the most. By bringing on board surgical solutions that are supported by the resources and global reach of Johnson & Johnson, we can improve and restore sight for more patients across the globe.”
Image: Johnson & Johnson headquarters in New Brunswick, New Jersey. Photo: courtesy of Nikopoley.