Alcon to Acquire LENSAR for $430M to Strengthen Leadership in Femtosecond Laser-Assisted Cataract Surgery

Mar 25, 2025 11:00 CST Updated 11:00

LENSAR

Femtosecond Laser System Developer

Alcon Announces Definitive Merger Agreement with LENSAR, Inc. to Acquire LENSAR. The acquisition includes the ALLY Robotic Cataract Laser Treatment System, LENSAR's proprietary Streamline software technology, and its existing laser systems, further strengthening Alcon’s product portfolio in the femtosecond laser-assisted cataract surgery (FLACS) field.

According to Elcon:Alcon to Acquire All Outstanding Shares of LENSAR for $14.00 Per Share in Cash (Approximately $356 Million), IfLENSAR to be completed between 2026 and 2027430,000 surgical procedures, the total price of this acquisition will increase to 430 million U.S. dollars. This acquisition is expected to be completed in the middle to late part of this year.

Executive Evaluation

"We are delighted to incorporate LENSAR's unique next-generation technology and intellectual property into our innovative and market-leading portfolio of devices. With the advantage of a global network, we are well-positioned to bring the benefits of advanced femtosecond laser technology to more ophthalmologists, continuously enhancing the efficiency of cataract surgeries."

---David Endicott CEO of Alcon

"We are always committed to providing ophthalmologists with breakthrough laser technology for current and future cataract surgeries. With the continuous enthusiasm of the LENSAR team, our customers, and investors, we look forward to Elcon driving innovation in refractive cataract surgery laser technology and jointly fulfilling the corporate mission of meeting the needs of doctors and patients."

---Nick Curtis LENSAR CEO

Currently, more than 5 million cataract surgeries are performed annually in the United States, and approximately 32 million globally. Each year...1,000,000 unitsCataract surgery adoptsLACS (Laser-Assisted Cataract Surgery) for treatment, with an annual growth rate exceeding 7%.LACS is a rapidly growing field.BeforeLACS CityThe main players on the field are Elcon, Johnson & Johnson, and LENSAR.LENSAR is currentlyLACS is the fastest-growing company, maintaining an annual growth rate of 20%-30%.LENSAR's high growth rate is due to its technological innovation and primarily competitiveCompetitorsAlcon and Johnson & Johnson are too slow in technological updates in this field, especially in 2022.ALLYSince its approval for marketing, it has quickly gained popularity among ophthalmologists.

The first three quarters of last yearLENSAR'sALLYIn a situation of excess demand over supply:

Q1: 10 installations; 3 backlogged orders

Q2: 17 installations; 17 backlog orders

Q3: 24 installations; 24 backlog orders

FutureALLYThe volume will increase more quickly, of course, it is also necessary.LENSAR's production capacity can keep up. Due to outdated technology and a vast market,Henan Elcon Technology Co., Ltd. is willing to pay$430 Million to Acquire a Consistently Loss-Making Company (Lost $30 Million Last Year). OnceThe successful acquisition of Elcon will consolidate its leading position in the field and deal a heavy blow to old competitors.

ALLY

ALLYYesLENSAR's Core ProductProduct, as well as the first robotic cataract laser system in the ophthalmology field, is mainly used for treating cataracts and corneal astigmatism.

ALLYIntegrated with world-class imaging and dual-modality lasers, it is the first and only tissue-specific laser, operating 4 times faster than traditional systems. Optimized for corneal and lens treatments, its astigmatism management software utilizes AI and iris registration to enhance efficiency and outcomes, improving surgical precision and overall efficiency, reducing operation time, and providing a better experience for both medical staff and patients.

ALLY Specific Advantages

With the high efficiency of ALLY, it can reduce the energy load on the eyes while saving time and operational costs, and increase the surgical volume.

Compared with other laser cataract systems, the single-case surgery saves up to 17 minutes.

Comparison of Traditional Cataract Surgery: Average Phacoemulsification TimeReduced by 27%(1.73 seconds vs 2.38 seconds);

After Enabling the ALLY System, the Volume of Laser Cataract SurgeriesIncrease 5 times.

ALLY's intelligent robotic imaging analysis and treatment planning technology achieves excellent clinical outcomes for complex cases (such as low/high astigmatism correction) with a new level of precision:

Patients Using IntelliAxis-Guided Toric IOLs: Postoperative Refractive Error100% ≤0.50D；

Patients who underwent arcuate incision correction had postoperative refractive errors.95.8% ≤0.50D。

LENSAR

LensarIs a commercial-stage medical device company dedicated to designing, developing, and marketing advanced systems for the treatment of cataracts and astigmatism management, as an integral aspect of the surgery.