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Alcon achieves more than 95% stake in WaveLight

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HUENENBERG, Switzerland — Alcon has achieved ownership of more than 95% of the approximately 6.6 million outstanding shares of WaveLight stock, the company announced in a press release.

Under the provisions of the German Stock Corporation Act, Alcon is recognized as the principal shareholder of WaveLight's issued and outstanding share capital, the release said.

Alcon has notified WaveLight's board of directors that the company intends to acquire all remaining outstanding shares in accordance with the "squeeze-out" stipulations of German securities law. Alcon plans to purchase these remaining shares in exchange for cash after WaveLight's annual general meeting in August.

"Completing the WaveLight acquisition will enable us to finalize the combination of Alcon's global commercial infrastructure with WaveLight's leading technologies," Kevin Buehler, Alcon's president and chief executive officer, said in the release. "While we have successfully integrated our refractive operations in the United States and other selected markets, we look forward to further market development opportunities and operating efficiencies afforded by full ownership."