RTTNews | Jan 10, 2022 02:25AM EST

02:24 Monday, January 10, 2022 (RTTNews.com) - Alcon Inc. (ALC), a global player in eye care, on Monday announced the closing of its previously announced acquisition of Ivantis, the developer of Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower eye pressure for open-angle glaucoma patients in connection with cataract surgery.

Alcon had in November 2021 announced its intention to acquire Ivantis for $475 million in upfront consideration. Ivantis Inc. was established in 2007 to design, develop and commercialize new technologies to treat eye disease and is headquartered in Irvine, California.

The acquisition and the immediate integration of Ivantis is expected to further strengthen Alcon's global surgical portfolio. It would also allow Alcon to begin its future growth plans to bring Hydrus Microstent to more international markets and prioritize its ongoing evidence-based research.

Shares of Alcon Inc (ALC) closed Friday's trading at $80.56, down $1.90 or 2.30 percent from previous close.

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