According to an August 5 announcement, Alcon has entered into a definitive merger agreement to acquire STAAR Surgical Company. The transaction represents a total equity value of approximately $1.5 billion.
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures and sells implantable lenses for the eye and accessory delivery systems to deliver the lenses into the eye. According to its most recent annual report, STAAR generated $313.9 million in revenue during the fiscal year 2024 and had an EBITDA loss of $8 million.
Alcon, a division of Novartis, researches and develops products for eye conditions such as cataracts, glaucoma, retinal diseases and refractive errors.
Under the terms of the agreement, Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash. This represents an approximate 59% premium to STAAR’s 90-day volume weighted average price and a 51% premium to the closing price of STAAR common stock on August 4, 2025.
The transaction is not subject to a financing condition. Alcon intends to finance the transaction through the issuance of short- and long-term credit facilities. The deal is anticipated to close in approximately six to 12 months following the announcement date. The transaction is expected to be accretive to earnings in year two.
Morgan Stanley & Co. LLC is serving as financial advisor to Alcon, and Gibson, Dunn & Crutcher LLP is serving as its legal advisor. Citi is serving as the exclusive financial advisor to STAAR, and Wachtell, Lipton, Rosen & Katz is serving as its legal advisor.
According to data captured in the LevinPro HC database, this transaction marks the 56th Medical Device transaction of the year. Throughout all of 2024, there were 87 Medical Device deals reported.
This also represents Alcon’s fifth acquisition of 2025. In July 2025, Alcon acquired LumiThera, a Washington-based commercial-stage medical device company, for an undisclosed price.
