Johnson & Johnson closes its $4.3 billion acquisition of Abbott’s Medical Optics biz
In February, Johnson & Johnson (NYSE:JNJ) said it closed the $4.33 billion buyout of Abbott‘s (NYSE:ABT) Medical Optics business.
The deal for AMO, announced in September 2016, includes its portfolio of ophthalmic products covering cataract surgery, laser refractive surgery and consumer eye health. The business posts annual sales of $1.1 billion, and J&J said it would be folded into the medical devices segment as a separate platform within J&J Vision Care.
“With the addition of AMO’s world-renowned ophthalmic surgery business, J&J Vision is poised to become a world leader in eye health,” chairwoman Ashley McEvoy said in a press release. “Sight is precious, it’s the sense people fear losing the most. By bringing on board surgical solutions that are supported by the resources and global reach of Johnson & Johnson, we can improve and restore sight for more patients across the globe.”
New Brunswick, N.J.-based Johnson & Johnson has said it expects the acquisition to be “modestly accretive immediately to adjusted earnings per share.”
