Alcon buying Irvine eye tech firm Ivantis for $475 million

A Swiss aesculapian institution is acquiring Irvine-based Ivantis Inc. for $475 million, the institution announced Monday.

Ivantis, with its office connected Technology Drive, makes a tiny implant that helps patients suffering from glaucoma, a illness that creates a buildup of ocular fluid and unit successful the eye. Too overmuch unit and the affected diligent tin endure from blurry vision, headaches and adjacent blindness.

Irvine-based Ivantis Inc. is being acquired by Alcon, a Swiss oculus attraction company, for astatine slightest $475 million. Ivantis makes an oculus implant to assistance trim fluid buildup caused by glaucoma. (Courtesy of Ivantis Inc.)

The privately held Ivantis pioneered its tiny, eyelash-size Hydrus Microstent implant to assistance drain ocular fluid. The company, founded successful 2007, has immoderate 200 employees successful Irvine. Alcon, the Geneva-based oculus attraction institution and a spinoff of Novartis, besides has offices successful Irvine. The Swiss institution specializes successful interaction lenses.

While Ivantis connected Monday wouldn’t remark connected the aboriginal operation of the institution up of the merger, a typical noted the 2 companies person precise small overlap.

The company’s microstent was approved by the FDA successful 2018 for usage during cataract country successful the United States. In the UK, Canada, Australia, Singapore, and Germany, the instrumentality besides tin beryllium implanted successful a standalone procedure, Ivantis said.

Glaucoma is the second-largest origin of blindness aft cataracts, affecting immoderate 75 cardinal radical worldwide, according to Ivantis CEO David Endicott.

“This transaction volition let america to adhd a uniquely effectual merchandise into our glaucoma portfolio astir the world,” Endicott said successful a statement. “Our planetary commercialized footprint and improvement capabilities marque america well-positioned to physique connected the occurrence of Ivantis and assistance adjacent much patients spot brilliantly with Hydrus Microstent.”

The woody with Alcon is taxable to adjacent successful aboriginal 2022 and could impact much payments to Ivantis, depending connected fiscal outcomes and regulatory hurdles.