Bausch & Lomb, 20/10 Perfect Vision say joint venture will advance laser eye surgery

SEPTEMBER 9, 2008 -- Bausch & Lomb (Rochester, NY) and femtosecond laser developer 20/10 Perfect Vision AG (Heidelberg, Germany) say they will form a joint venture focused on laser vision correction. The deal leverages the refractive eye surgery assets of both partners: It will combine 20/10 Perfect Vision's presbyopia correction technology with Bausch & Lomb's development strength and worldwide reach.

SEPTEMBER 9, 2008 -- Global eye health company Bausch & Lomb (Rochester, NY) and 20/10 Perfect Vision AG (Heidelberg, Germany), developer of femtosecond lasers, say they will form a joint venture focused on the laser vision correction industry. The partnership aims to combine the refractive eye surgery assets of both businesses, delivering 20/10 Perfect Vision's promising new technology for the correction of presbyopia in conjunction with Bausch & Lomb's development expertise and worldwide commercial reach.

The transaction is expected to close by the end of 2008; financial terms will not be disclosed. The deal logically steps up competition with LASIK leader Advanced Medical Optics (AMO).

"We believe that our investment of assets in the joint venture will help advance the refractive industry, benefiting ophthalmologists and patients worldwide," said Gerald M. Ostrov, chairman and CEO, Bausch & Lomb. "20/10 Perfect Vision's development of presbyopia-correcting treatments using its FEMTEC femtosecond laser -- when paired with our proven refractive products, R&D insights and global sales and marketing resources -- holds tremendous potential to stimulate growth in corneal refractive surgery."

"We are excited about this unique opportunity to form a global company committed to focusing on refractive laser surgery," commented Dr. Kristian Hohla, executive president of 20/10 Perfect Vision. "Combining innovative teams, visionary technologies, and state-of-the-art refractive surgery products will yield a powerful portfolio of options for customers and patients."

Bausch & Lomb currently develops and manufactures refractive surgery products including the Zyoptix Personalized Laser Vision Correction System, the Zyoptix XP microkeratome, and related diagnostics products. 20/10 Perfect Vision develops and markets the FEMTEC femtosecond laser workstation, which enables non-invasive intrastromal refractive procedures.

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