Alcon to Acquire Staar Surgical in $1.5B Deal

Alcon has announced a definitive agreement to acquire Staar Surgical for approximately $1.5 billion, marking a significant move to strengthen its refractive surgery offerings, particularly for patients with moderate to high myopia.

Acquisition Details and Strategic Rationale

Under the terms of the agreement, Alcon will acquire all outstanding shares of Staar common stock at $28 per share in cash, representing a 51% premium to Staar's closing stock price on August 4, 2025. The deal reflects a total equity value of approximately $1.5 billion.

This acquisition includes the EVO family of Implantable Collamer Lenses (EVO ICL), which are designed to correct myopia with or without astigmatism. The EVO ICLs are surgically implanted between the iris and the eye’s natural lens without removing corneal tissue, offering a minimally invasive, reversible vision correction option.

Addressing the Global Myopia Epidemic

According to research cited by Alcon, nearly 50% of the global population is projected to be myopic by 2050, with nearly 500 million people currently categorized as high myopes.

“With the number of high myopes rising globally, the acquisition of Staar enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,” stated David Endicott, CEO of Alcon. “This transaction will allow us to provide treatment options across the full spectrum of myopia—from contact lenses to surgical interventions—reinforcing our commitment to addressing the most significant needs in eye care.”

Challenges and Strategic Opportunity

Despite years of growth, Staar Surgical has recently faced significant market challenges, particularly from slowing sales in China. In Q1 2025, Staar reported net sales of $42.6 million, down 45% from $77.4 million in the same period the previous year. In response, the company implemented leadership changes in March, appointing Stephen Farrell as CEO, replacing Tom Frinzi.

Commenting on the deal, Farrell said, “We believe the transaction with Alcon represents the best path forward and provides the greatest value for Staar shareholders. As a significantly larger company, Alcon has the capabilities and scale to accelerate EVO ICL adoption and bring our innovative technology to more surgeons and patients worldwide.”

Regulatory Timeline and Board Approvals

The transaction, which has been unanimously approved by the Boards of Directors of both Alcon and Staar, is expected to close within six to twelve months. Completion is subject to customary regulatory approvals and shareholder consent.

Reference:

Global Prevalence of Myopia and High Myopia and Temporal Trends from 2000 through 2050. Brien A Holden at al. Ophthalmology. 2016 May;123(5):1036-42.