Johnson & Johnson Vision will reach more patients globally with expansion into cataract surgery.
Johnson & Johnson (NYSE: JNJ) announced it has completed the acquisition of Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott. The all-cash $4.325 billion acquisition was originally announced Sept. 16, 2016, and includes ophthalmic products in three areas of patient care: cataract surgery, laser refractive surgery and consumer eye health. These product lines will now join with the world-leading ACUVUE® Brand Contact Lenses business, and the combined organization will operate under the brand name Johnson & Johnson Vision (J&J Vision).
“With the addition of AMO’s world-renowned ophthalmic surgery business, J&J Vision is poised to become a world leader in eye health,” said Ashley McEvoy, Company Group Chairman, Johnson & Johnson Consumer Medical Devices. “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.”
At nearly $70 billion, eye health is one of the largest, fastest-growing and most underserved segments in healthcare today.