News Article

Swiss-American pharmaceutical and medical device company Alcon has struck a definitive agreement to purchase STAAR Surgical in a deal which values the phakic IOL specialist at roughly $1.5 billion, but the shareholder vote on the takeover offer has been delayed until December 3.

Opposing shareholders argue that the deal undervalues the business. 

The transaction will add the EVO Implantable Collamer Lens (ICL) franchise to Alcon’s refractive surgery line-up. Separately, Alcon has closed its acquisition of global ophthalmic medical device company LumiThera, giving it a commercial entry into the dry age-related macular degeneration (AMD) market.

The deal will expand Alcon’s refractive surgery coverage from cornea reshaping LASIK and minimally invasive near-sighted and astigmatism correcting SMILE lasers into EVO ICLs – a vision correction procedure that involves implanting a special contact lens into the eye to correct vision problems like near-sightedness, farsightedness, and astigmatism. 

The will round out Alcon’s surgical offerings, positioning the company across contact lenses, corneal laser, and now phakic IOLs—broadening surgeon touch-points and creating cross-selling opportunities in refractive clinics. Integration may unlock manufacturing efficiencies; Alcon already produces IOLs and can potentially leverage its existing supply chain.

Meanwhile the now completed LumiThera deal brings Alcon into retina offices —a new commercial channel—while tackling an unmet need in dry AMD where pharmaceutical options are limited.

Alcon is expected to finalise the STAAR acquisition in early 2026.