ROCHESTER, N.Y. and HEIDELBERG, GERMANY — Bausch & Lomb, the global eye health company, and 20/10 Perfect Vision AG, the femtosecond laser developer, today announced their intent to form a joint venture focused on the laser vision correction industry. The joint venture will combine the refractive eye surgery assets of both businesses, delivering 20/10 Perfect Vision’s promising new technology for the correction of presbyopia in conjunction with Bausch & Lomb’s development expertise and worldwide commercial reach.
The transaction is expected to close by the end of 2008. Financial terms will not be disclosed.
“We believe that our investment of assets in the joint venture will help advance the refractive industry, benefiting ophthalmologists and patients worldwide,” said Gerald M. Ostrov, chairman and chief executive officer, Bausch & Lomb. “20/10 Perfect Vision’s development of presbyopia-correcting treatments using its FEMTEC femtosecond laser — when paired with our proven refractive products, R&D insights and global sales and marketing resources — holds tremendous potential to stimulate growth in corneal refractive surgery.”
“We are excited about this unique opportunity to form a global company committed to focusing on refractive laser surgery,” commented Dr. Kristian Hohla, executive president of 20/10 Perfect Vision. “Combining innovative teams, visionary technologies, and state-of-the-art refractive surgery products will yield a powerful portfolio of options for customers and patients.”
Bausch & Lomb currently develops and manufactures refractive surgery products including the Zyoptix® Personalized Laser Vision Correction System, the Zyoptix XP microkeratome, and related diagnostics products. 20/10 Perfect Vision develops and markets the FEMTEC femtosecond laser workstation, whose unique properties make possible proprietary, non-invasive intrastromal refractive procedures.
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About Bausch & Lomb
Bausch & Lomb is the eye health company dedicated to perfecting vision and enhancing lbife for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, N.Y., and employs approximately 13,000 people worldwide. Its products are available in more than 100 countries. More information can be found at www.bausch.com.
About 20/10 Perfect Vision
20/10 Perfect Vision AG of Heidelberg, Germany, develops, manufactures and markets innovative technologies for raising refractive surgery well beyond current expectations. The company's FEMTEC femtosecond laser workstation is set to revolutionize the ophthalmic surgery market, while keeping ease-of-use and patient safety as primary objectives. The ISO 9001:2000 and ISO 13485 certified company also developed WaveScan™, the award-winning wavefront diagnostic device for refractive surgery, acquired by VISX™ (now Advanced Medical Optics, Inc.).
Zyoptix is a trademark of Bausch & Lomb Incorporated. FEMTEC is a trademark of 20/10 Perfect Vision AG.