The technology will enable surgeons to leverage a computer-guided laser for managing “visually significant” astigmatism. Credit: Terelyuk/Shutterstock.

Alcon has signed a definitive merger agreement to acquire Lensar to enhance its portfolio of cataract equipment and technology.

Valued at nearly $356m, the acquisition will enhance Alcon’s femtosecond laser-assisted cataract surgery (FLACS) capabilities by including Lensar’s ALLY Robotic Cataract Laser Treatment System and Streamline software technology.

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The agreement stipulates that Alcon will purchase Lensar’s all outstanding shares for $14.00 each in cash, with an additional contingent value right of up to $2.75 per share, based on the achievement of a specific procedural milestone.

The total potential consideration could reach $430m, representing a significant premium over Lensar’s recent volume-weighted average prices (VWAP).

The transaction is expected to be finalised by mid-to-late 2025, subject to regulatory and Lensar stockholder approvals.

Lazard and Norton Rose Fulbright are advising Alcon while Wells Fargo and Latham & Watkins are advising Lensar in this transaction.

The FLACS technology enables surgeons to leverage a computer-guided laser for managing “visually significant” astigmatism, conduct corneal incisions, capsulotomy as well as fragment the lens, eliminating the requirement of blade incisions.

Alcon CEO David Endicott said: “We are excited for the opportunity to bring Lensar’s unique next-generation technologies and intellectual property into our innovative, market-leading equipment portfolio.

“By leveraging our global footprint, we have the opportunity to deliver the benefits of advanced femtosecond laser technology to many more surgeons around the world and continue to improve efficiency in cataract surgery.”

Lensar’s ALLY Robotic Cataract Laser System integrates AI into imaging and software, aiming to revolutionise cataract surgery with its robotic technologies.

The system is tailored for use in both sterile operating rooms and in-office surgical suites, offering potential “operational efficiencies” and decreased overhead.

Lensar CEO Nick Curtis said: “Our focus has been on providing surgeons with breakthrough laser technology in cataract surgery for today and tomorrow.”