Alcon to Acquire Staar Surgical for $1.5 Billion
In a major deal to expand its refractive portfolio and continue its spree of acquisitions, Alcon has agreed to acquire Staar Surgical, maker of the Implantable Collamer Lens (ICL). The acquisition includes the EVO family of lenses (EVO ICL) for vision correction for patients with moderate to high myopia, with or without astigmatism.
Under the terms of the agreement, Alcon will purchase all outstanding shares of Staar common stock for $28 per share in cash, which represents approximately a 51% premium to the closing price of Staar common stock on August 4, 2025. The transaction represents a total equity value of approximately $1.5 billion.
Citing published research, Alcon says an estimated 50% of the world will be myopic by 2050 and today nearly 500 million people are considered high myopes.1
“With the number of high myopes rising globally, the acquisition of Staar enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,” said David Endicott, CEO of Alcon. “This transaction will allow us to provide treatment options across the full spectrum of myopia—from contact lenses to surgical interventions—reinforcing our commitment to addressing the most significant needs in eye care.”
After a multi-year run of strong growth, Staar faced challenges in recent years, driven largely by headwinds and lagging sales in China. In the first quarter of 2025, Staar reported net sales of $42.6 million, a 45 percent decrease compared with $77.4 million for the same period the prior year. In March, the company announced a series of changes to their leadership structure, including naming Stephen Farrell as CEO, replacing industry veteran Tom Frinzi.
“We believe the transaction with Alcon represents the best path forward and provides the greatest value for Staar shareholders,” said Mr. Farrell, CEO of Staar. “As we’ve shared, fluctuating demand in China over the past two years has continued to create significant headwinds for Staar as a standalone company. I'm proud of our team’s efforts to address recent challenges, but there is more work to do. As a significantly larger company, Alcon has the capabilities and scale to accelerate EVO ICL adoption and bring our innovative technology to more surgeons and patients worldwide.”
The EVO family of ICLs are implantable lenses that address a wide range of vision correction needs, including myopia with and without astigmatism, through a minimally invasive procedure that is reversible. The EVO family of ICLs are implanted between the iris and the natural crystalline lens during a procedure that does not remove corneal tissue.
The transaction is anticipated to close in 6 to 12 months, subject to customary closing conditions, including regulatory approval and approval by Staar's shareholders. The Boards of Directors of Alcon and Staar have each unanimously approved the transaction.
Alcon has been in acquisition mode in 2025, expanding its device and pharma offerings in multiple areas of care. In March, Alcon announced plans to acquire Lensar, maker of the ALLY Robotic Cataract Laser Treatment System, for about $356 million. Also in March, Alcon acquired a majority interest in Aurion Biotech, a clinical-stage company developing cell therapies to treat eye diseases. Aurion will operate as a separate company with support from Alcon to advance its clinical-stage allogeneic cell therapy asset, AURN001, into phase 3 for corneal edema secondary to corneal endothelial disease during the second half of 2025. In July, in a move to bolster is vitreoretinal surgery portfolio, Alcon announced its intention to acquire LumiThera and its photobiomodulation (PBM) device for the treatment of dry early and intermediate dry AMD. Also in July, Alcon completed its acquisition of Belkin Vision, the maker of direct selective laser trabeculoplasty (DSLT) technology.
The deal also comes just a week after Alcon announced the US commercial availability of recently approved dry eye drug Tryptyr (acoltremon ophthalmic solution) 0.003%.
References
- Global Prevalence of Myopia and High Myopia and Temporal Trends from 2000 through 2050. Brien A Holden at al. Ophthalmology. 2016 May;123(5):1036-42.