SANTA ANA, Calif., May 31, 2005 /PRNewswire-FirstCall/ -- Advanced
Medical Optics, Inc. (AMO) (NYSE: AVO), announced today that it
has completed its acquisition of VISX, Incorporated. The strategic
combination brings together two highly complementary companies with
a broad range of superior ophthalmic technologies and a singular
focus on serving the vision care needs of practitioners and patients
around the world.
AMO and VISX stockholders approved the transaction on May 26,
2005. AMO announced on November 9, 2004 its agreement to acquire
VISX in a cash and stock transaction. Under the terms of the definitive
merger agreement, VISX stockholders receive 0.552 shares of AMO
stock and $3.50 in cash for every share of VISX common stock they
own.
"We view refractive surgery as an extremely important growth
opportunity in ophthalmic devices," said AMO President and CEO Jim
Mazzo. "The acquisition of VISX transforms AMO into the world's
leading refractive surgical company and demonstrates our commitment
to this fast-growing market. AMO pioneered the concept of refractive
intraocular lenses (IOLs) and currently offers more refractive IOLs
worldwide than any other competitor. As we combine VISX with AMO,
we will continue to focus our R&D investment toward discovering
new technologies that optimize vision for people of all ages."
AMO inherits VISX's large installed base of industry leading
brands such as the STAR(TM) S4 Laser System, WaveScan Wavefront(R)
system and CustomVue(R) custom ablation technology. These products,
in conjunction with AMO's refractive portfolio that includes Verisyse(R),
ReZoom(TM), Array(R), and Tecnis(R) IOLs and the Amadeus(TM) II
microkeratome, provides the largest portfolio of refractive products
in the industry.
"VISX is a company we have long admired, and I welcome our new
colleagues and their superior product set and customer service excellence
into the AMO organization," said Mazzo. "We have strengthened our
ability to serve eye care professionals and look forward to expanding
the VISX technologies globally while continuing to provide products
with the same safety, efficacy, convenience and options customers
have grown to expect from AMO and VISX."
AMO's stockholders now own approximately 58.5 percent of the
combined company and VISX's stockholders own approximately 41.5
percent. Effective June 8, AMO expects to begin trading on the New
York Stock Exchange under the ticker symbol "EYE." Liz Davila, former
chairman and CEO of VISX, has joined AMO's board of directors, while
former VISX President and COO Doug Post joins AMO as president of
its Americas region.
About Advanced Medical Optics (AMO)
AMO is a global medical device leader focused on the discovery
and delivery of innovative vision technologies that optimize the
quality of life for people of all ages. Products in the ophthalmic
surgical line include intraocular lenses, laser vision correction
systems, phacoemulsification systems, viscoelastics, microkeratomes
and related products used in cataract and refractive surgery. AMO
owns or has the rights to such ophthalmic surgical product brands
as ReZoom(TM), Phacoflex(R), Clariflex(R), Array(R), Sensar(R),
CeeOn(R), Tecnis(R) and Verisyse(TM) intraocular lenses, STAR S4(TM)
laser vision correction system, WaveScan Wavefront(R) System, CustonVue(R)
procedure, Sovereign(R) and Sovereign(R) Compact(TM) phacoemulsification
systems with WhiteStar(TM) technology, Amadeus(TM) and Amadeus(TM)
II microkeratomes, Healon(R) and Vitrax(R) viscoelastics, and the
Baerveldt(R) glaucoma shunt. Products in the contact lens care line
include disinfecting solutions, daily cleaners, enzymatic cleaners
and lens rewetting drops.
Among the contact lens care product brands the company possesses
are COMPLETE(R) Moisture PLUS(TM), COMPLETE(R) Blink-N-Clean(R),
Consept(R)F, Consept(R) 1 Step, Oxysept(R) 1 Step, UltraCare(R),
Ultrazyme(R), Total Care(R) and blink(TM) branded products. Amadeus
is a licensed product of, and a trademark of, SIS, Ltd. AMO is based
in Santa Ana, California, and employs approximately 3,500 worldwide.
The company has operations in about 20 countries and markets products
in approximately 60 countries.
For more information, visit the company's Web site at http://www.amo-inc.com
