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AMO completes IntraLase acquisition

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SANTA ANA, Calif. — Advanced Medical Optics has completed the acquisition of IntraLase Corp., the company announced in a press release. The acquisition was approved by IntraLase stockholders on March 30 and closed today, consistent with AMO's original timetable for completing the transaction early in the second quarter, the release said.

Under terms of the agreement, AMO paid IntraLase $25 cash per share for a total of $808 million. With the aquisition, AMO plans to enter the cornea transplant market, according to the release.

"Along with the recently announced acquisition of WaveFront Sciences, AMO now owns the most advanced corneal refractive technologies on the market with the ability to offer a full systems approach," said Jim Mazzo, AMO president and CEO, in the release.

AMO acquired WaveFront Sciences, developer of the COAS Precision Aberrometer, in January. The company plans to merge its international expansion strategies with those of IntraLase to establish a position as "the industry leader in laser diagnostics, flap-creation and ablation technologies," according to the release.

"The IntraLase femtosecond laser is revolutionizing corneal transplantation because it allows us, for the first time, to precisely create complex, interlocking incision contours that can seal better and potentially heal faster," said Frank Price, MD, of the Price Vision Group, in the release.