Abbott Buys Advanced Medical Optics for $1.36 Billion

Over 140 Auctions End Today - Bid Now
Over 2800 Total Lots Up For Auction at Six Locations - Over 560 Pennsylvania Auctions End Tomorrow 06/22 - Bid Now, OK 06/23, UT 06/24, CA 06/25, NJ Cleansweep 06/29, MN 06/30

Abbott Buys Advanced Medical Optics for $1.36 Billion

by Lynn Shapiro, Writer | January 12, 2009
AMO
Abbott Laboratories said it would acquire Advanced Medical Optics Inc. for $1.36 billion, boosting Abbott's already formidable presence in the eye care business.

Abbott will pay $22 per share in cash for AMO, more than double the share's closing price last Friday of $8.85. This is considered to be an inexpensive acquisition for Abbott, considering Advanced Medical Optics was trading at about $22 several months ago.

"Abbott will immediately become a global leader in vision," said vice president John M. Capek. "The business is poised for long-term growth, driven by advances in refractive surgery technologies, including Lasik, and an aging global population," Capek added.

New & Refurbished C-Arm Systems. Call 702.384.0085 Today!

Quest Imaging Solutions provides all major brands of surgical c-arms (new and refurbished) and carries a large inventory for purchase or rent. With over 20 years in the medical equipment business we can help you fulfill your equipment needs

Advanced Medical is the world's largest company dealing in Lasik surgical devices, the second largest player in the cataract surgical-device market and third in contact-lens solutions.

The market for cataract surgery is expected to grow by approximately 50% in the next decade as the population ages, the company said.

Last week, Abbott also said it would team up with Liquidia Technologies, a nanotechnology company, to develop cancer drugs.