Abbott completes $2.8B takeover of AMO
Health care major Abbott Laboratories has completed its $2.8 billion acquisition of fellow USA-based Advanced Medical Optics, which is now its wholly-owned subsidiary and has been renamed Abbott Medical Optics.
The takeover, which was agreed last month (Marketletter January 19), enhances and strengthens Abbott's diverse mix of medical device businesses and gives it a leadership position in the large and growing eye-care market.
Abbott Medical Optics holds the number one position in LASIK surgical devices, number two in the cataract surgical device market and ranks third in contact lens care products, Abbott noted.
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