Connect with us

Headlines

Alcon Makes $285M Acquisition

It bought PowerVision Inc., a medical device development company.

mm

Published

on

FORT WORTH, TX – Alcon announced that it has acquired PowerVision Inc., a privately held, U.S.-based medical device development company focused on creating fluid-based intraocular lens implants.

Alcon paid $285 million to PowerVision at closing, with additional payments to be made based on regulatory and commercial milestones starting in 2023, according to a press release from Alcon, a division of Novartis.

What’s Really Up with Vision Expo in 2021?
INVISION Podcast

What’s Really Up with Vision Expo in 2021?

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop
INVISION Podcast

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]
INVISION Podcast

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]

The acquisition “furthers Alcon’s commitment to bring this innovative, accommodating lens to cataract patients throughout the world,” the release stated.

Financial terms of the deal were not disclosed.

Commercial availability of PowerVision’s IOL technology will be determined following significant additional development and clinical trials of the intraocular lens, according to the release.

“As the industry leader in cataract surgery, we’re eager to accelerate development of this potentially breakthrough accommodating lens technology,” said Michael Onuscheck, president of Global Business and Innovation. “By treating cataracts and restoring natural, continuous range of vision, this intraocular lens may be the preferred IOL for cataract surgery patients who desire spectacle independence.”

Advertisement

PowerVision’s lens design utilizes the eye’s natural accommodating response to transport fluid in the intraocular lens which is implanted in the eye’s capsular bag.

While most presbyopia-correcting intraocular lenses use a multifocal design that distributes light between different focal points, PowerVision’s fluid-based design creates a continuously variable monofocal lens, utilizing the natural contraction of the eye’s muscles, according to the release. This technology allows the patient to actively focus on objects, just as the natural crystalline lens does in a youthful eye, providing patients with a natural, continuous range of vision.

“We’re thrilled to officially join Alcon and its pioneering history of launching new innovation in the field of ophthalmology,” said Barry Cheskin, president and CEO and co-founder of PowerVision. “We look forward to bringing this innovative IOL technology to eye care providers and customers in the years ahead.”

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

SPONSORED VIDEO

Sponsored by Shamir

Customer Focused, Service Oriented, Forward Thinking

Shamir is the recognized world leader in custom-designed technology for life improvement, fashion, performance sports, occupational single vision, and progressive lenses. Our values, the driving force behind our ideas and actions, keep the ECP in the center. Every Shamir representative is personally committed to our customers’ vision, and to providing the best service and support to meet and exceed their expectations, all with a personal touch.

Click here for more information.

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular