Johnson & Johnson Vision has announced a definitive agreement to acquire TearScience, a leading medical device manufacturer dedicated to evaluating meibomian gland health and treating Meibomian Gland Dysfunction (MGD).
The acquisition of TearScience will provide strategic value to Johnson & Johnson Vision, further expanding its leading portfolio of products in eye health.
TearScience received FDA clearance for an office-based approach to image meibomian glands and treat MGD and has sales in the US and major markets globally.
“Dry Eye is a significant unmet health need globally, and Meibomian Gland Dysfunction is the cause for more than 60% of people living with this condition,” said Ashley McEvoy, Company Group Chairman, responsible for the Johnson & Johnson Vision Companies. “The innovative portfolio from TearScience positively impacts the lives of patients around the world suffering from this chronic condition. These solutions, coupled with our existing contact lens and surgical portfolio, will allow us to help more patients with their vision needs, throughout their lifetime.”
MGD is the leading underlying cause of Dry Eye Disease (Dry Eye), impacting 340 million people globally. It is a chronic and progressive condition that can range from mild to debilitating pain to vision loss. Dry Eye is a primary reason for discontinued use of contact lenses, and treating Dry Eye prior to cataract surgery is critical to achieving optimal visual outcomes, particularly when using premium intraocular lenses. The acquisition of TearScience strengthens the Johnson & Johnson Vision portfolio, allowing it to provide a critical solution to its optometric and ophthalmic customers who serve these patients.
Johnson & Johnson Vision will acquire TearScience through its surgical vision operating company, Abbott Medical Optics Inc. – financial terms of the transaction have not been disclosed. The transaction is expected to close by the end of the year. The closing is subject to antitrust clearance and other customary closing conditions. Following the expected closing, sales will be reported in the Medical Devices segment, under Vision Care.
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