Alcon today announced that it has entered into an agreement with LENSAR to terminate the companies’ previously announced merger agreement.
"Alcon continues to believe that the acquisition of LENSAR would have significantly enhanced FLACS innovation and competition to the benefit of surgeons and patients. However, the delay and associated costs of this extended regulatory review, which began nearly a year ago, has rendered the transaction unattractive to pursue further in light of the Federal Trade Commission’s opposition. Alcon remains committed to advancing cataract surgery by delivering technologies that improve efficiency for surgeons and outcomes for patients,” said Alcon CEO David J. Endicott in a statement.
FTC Bureau of Competition Director Daniel Guarnera said his division identified substantial competitive concerns with this transaction.
"Competitors simply cannot attempt to buy out rivals to get out from the heat of pricing and innovation competition. I’m proud of the work done by ACE in this investigation, which produced evidence of consumer harm so substantial that the merging firms threw up a white flag rather than risk facing the FTC in court. ACE’s work will help preserve price competition for FLACS devices, promote innovation in this industry, and protect American manufacturing jobs," he said in a statement.
Alcon first announced the deal to buy LENSAR for $430 million last year, and anticipated the deal closing by mid-2025.
