The deal is expected to close this year.
SANTA ANA, CA – Johnson & Johnson Vision announced that it plans to acquire medical device manufacturer TearScience Inc.
TearScience has received FDA clearance for an office-based approach to image meibomian glands and treat meibomian gland dysfunction. It has sales in the U.S. and major markets globally, according to a J&J press release.
“Dry eye is a significant unmet health need globally, and meibomian gland dysfunction is the cause for more than 60 percent of people living with this condition,” said Ashley McEvoy, company group chairman responsible for the Johnson & Johnson Vision Cos. “The innovative portfolio from TearScience positively impacts the lives of patients around the world suffering from this chronic condition. These solutions, coupled with our existing contact lens and surgical portfolio, will allow us to help more patients with their vision needs, throughout their lifetime.”
Financial terms of the deal were not disclosed.
Dry eye is a primary reason for discontinued use of contact lenses, and treating dry eye prior to cataract surgery is critical to achieving optimal visual outcomes, particularly when using premium intraocular lenses.
“The acquisition of TearScience strengthens the Johnson & Johnson Vision portfolio, allowing it to provide a critical solution to its optometric and ophthalmic customers who serve these patients,” according to the press release.
Johnson & Johnson Vision will acquire TearScience through its surgical vision operating company, Abbott Medical Optics Inc. The transaction is expected to close by the end of the year.
The closing is subject to antitrust clearance and other customary closing conditions.