Abbott to Enter Laser Cataract Surgery Market With Acquisition of OptiMedica By Staff Wednesday, July 17, 2013 12:33 AM ABBOTT PARK, Ill.— Abbott Medical Optics (NYSE: ABT) has entered into an agreement to purchase OptiMedica Corp., a privately held, Silicon Valley-based ophthalmic device company. The acquisition will enable Abbott to expand its vision care business into the femtosecond laser-assisted cataract surgery market. Under the terms of the agreement, Abbott will acquire OptiMedica for $250 million, net of cash, plus additional payments totaling up to $150 million upon completion of certain development, regulatory or sales milestones. "The acquisition of OptiMedica will provide Abbott with an entry point into the rapidly developing laser cataract surgery market," said Murthy Simhambhatla, senior vice president, medical optics, Abbott. "The Catalys laser system provides physicians with a state-of-the-art, computer-guided alternative in treating patients suffering from cataracts." Abbott said the transaction is expected to close by the end of the year and will not impact its ongoing full-year 2013 earnings-per-share guidance. The transaction is subject to customary closing conditions, including antitrust clearances.