Alcon Walks Away from LENSAR Deal After FTC Blocks Merger

The global eye care giant has pulled the plug on its acquisition of laser cataract surgery specialist LENSAR, citing mounting regulatory costs and opposition from US competition authorities.

Alcon has confirmed it will terminate its proposed merger agreement with LENSAR, Inc., ending a regulatory battle that stretched close to a year and ultimately proved too costly to continue fighting.

The Geneva-headquartered company announced on 16 March that it has entered into a formal agreement with LENSAR, a NASDAQ-listed developer of femtosecond laser systems for cataract surgery, to dissolve the previously announced deal.

In a statement, Alcon CEO David Endicott acknowledged the strategic rationale for the acquisition remained sound, but said the prolonged review process had made the transaction unviable.

"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 David J. Endicott.