Alcon to Acquire STAAR Surgical in Deal to Bolster Vision Correction Portfolio
Alcon has announced a definitive agreement to acquire STAAR Surgical Company, the US manufacturer of the Implantable Collamer® Lens (ICL), in a deal worth approximately US$1.5 billion (A$2.25 billion).
Under the terms of the agreement, Alcon will purchase all outstanding shares of STAAR common stock for US$28 per share in cash, a 59 per cent premium on STAAR's 90-day volume-weighted average price and 51 per cent above its closing price on 4 August 2025.
The acquisition will see Alcon add STAAR's EVO family of ICLs to its portfolio. These implantable lenses are designed for patients with moderate to high myopia, with or without astigmatism, offering a minimally invasive, reversible alternative to laser vision correction. Unlike LASIK, the procedure does not remove corneal tissue; instead, the lens is positioned between the iris and the eye’s natural crystalline lens.
“With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,” said David Endicott, CEO of Alcon. “This transaction will allow us to provide treatment options across the full spectrum of myopia—from contact lenses to surgical interventions—reinforcing our commitment to addressing the most significant needs in eye care.”
“We believe the transaction with Alcon represents the best path forward and provides the greatest value for STAAR shareholders,” said Stephen Farrell, CEO of STAAR. “As we’ve shared, fluctuating demand in China over the past two years has continued to create significant headwinds for STAAR as a standalone company. I'm proud of our team’s efforts to address recent challenges, but there is more work to do. As a significantly larger company, Alcon has the capabilities and scale to accelerate EVO ICL adoption and bring our innovative technology to more surgeons and patients worldwide.”
Dr. Elizabeth Yeu, Chair of the STAAR Board of Directors, said, “The STAAR Board is committed to maximizing value for shareholders. We have determined that this carefully negotiated transaction is in the best interest of STAAR shareholders as it delivers immediate and certain value at a significant premium, value that exceeds what we believe could be achieved under STAAR’s standalone strategy.”
The transaction, unanimously approved by the boards of both companies, is expected to close within six to 12 months, pending regulatory clearances and STAAR shareholder approval. Alcon will fund the acquisition through short- and long-term credit facilities, with no financing condition attached.
The company expects the deal to be accretive to earnings by the second year following completion.
