Alcon (NYSE:ALC) announced today that it intends to acquire glaucoma surgery device maker Ivantis for $475 million upfront.
Geneva, Switzerland-based Alcon aims to bolster its portfolio across cataract, refractive, retina and glaucoma offerings with the acquisition of Ivantis and its novel Hydrus Microstent for minimally invasive glaucoma surgery (MIGS).
Ivantis designed the Hydrus Microstent to lower intraocular pressure for open-angle glaucoma patients in connection with cataract surgery. A five-year study demonstrated that 65% of Hydrus Microstent patients remained medication-free at five years post-implant with a more than 60% reduction in risk of invasive secondary glaucoma surgeries compared to cataract surgery alone, according to a news release.
The FDA approved the Hydrus Microstent in August 2018 for use in conjunction with cataract surgery in the U.S., while it is indicated for primary open-angle glaucoma in conjunction with cataract surgery or…