Alcon Plc (ALC) to acquire STAAR Surgical Company (STAA) for $28 per share in cash, totaling $1.5 billion. The acquisition includes EVO ICL for high myopia correction. Alcon plans to finance the purchase with credit facilities, expecting to close in 6-12 months and be accretive in year two.

Alcon CEO, David Endicott, cites rising global myopia rates in the decision to acquire STAAR, with an estimated 50% of the world myopic by 2050. The EVO family of ICLs, implanted between the iris and crystalline lens, offers a surgical vision correction solution for high myopes.

Alcon’s recent announcement of acquiring LumiThera, Inc. and its PBM Device for dry age-related AMD treatment aligns with their strategic growth plan. PBM received FDA de novo market authorization in 2024 and CE Mark in 2018, showing consistent visual acuity improvements in clinical trials.

The transaction excludes the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be spun off to LumiThera’s shareholders before Alcon’s acquisition. Alcon and LumiThera anticipate completing the acquisition in the third quarter of 2025, with ALC stock trading lower and STAA stock trading higher on the news.

Read more at Yahoo Finance: Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition