Abbott in deal for Advanced Medical Optics

Abbott in deal for Advanced Medical Optics

Abbott announced this week that it is acquiring Advanced Medical Optics for close to $1.4 billion (£.096 million).

The deal equates to $22 (£15) per share.

According to Reuters, AMO is the third biggest company for contact lens products.

It is also the biggest maker in the world of Lasik laser surgery equipment and the second biggest for surgical lenses to treat cataracts.

AMO chairman and chief executive officer Jim Mazzo said that both companies share the aims of "advancing medical science to provide better patient care" and called attention to the financial stability of Abbott.

He also said that the companies expect to finish the process during the first three months of the year.

AMO technology includes treatments for such conditions as myopia and astigmatism as well as care of contact lenses.

It has corneal, refractive and cataract-based product lines.

by Emily Tait

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