J&J buys Abbott Medical Optics for $4,3 billion

Johnson & Johnson
The logo of healthcare company Johnson & Johnson is seen in front of an office building in Zug, Switzerland July 20, 2016. REUTERS/Arnd Wiegmann

Johnson & Johnson has completed the acquisition of Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott, for $4.325 billion.

The acquisition was originally announced Sept. 16, 2016, and includes ophthalmic products in three areas of patient care: cataract surgery, laser refractive surgery and consumer eye health. These product lines will now join with the Acuvue Brand Contact Lenses business, and the combined organization will operate under the brand name Johnson & Johnson Vision (J&J Vision), the company said in its press release.

At nearly $70 billion, eye health is one of the largest, fastest-growing and most underserved segments in healthcare today.