Bausch + Lomb, a global eye health company, has exercised its option to purchase all outstanding and unowned shares of Technolas Perfect Vision (TPV), a ophthalmology laser company based in Germany.

Technolas Perfect Vision was established in 2009 through a joint venture between Bausch + Lomb and 20/10 Perfect Vision to develop and sell advanced refractive and cataract technologies. The deal is expected to close at the end of January 2013.

Bausch + Lomb and Technolas Perfect Vision entered into a co-promotion agreement back in September 2011, which also included an option for Bausch + Lomb to purchase the company if certain key milestones were achieved. Since that time, the companies have leveraged their combined cataract and refractive expertise and commercial capabilities to promote and further advance the Victus femtosecond laser, which is capable of supporting cataract and corneal procedures on a single platform. In the last 12 months, the Victus platform received marketing approval from regulatory authorities in Europe and the U.S., and the companies are continuing to file registrations in other parts of the world as they accelerate the roll-out.

"Our acquisition of Technolas Perfect Vision represents an important milestone for Bausch + Lomb, but perhaps more importantly, for cataract and refractive patients worldwide," said Brent Saunders, president and CEO, Bausch + Lomb. "The Technolas Perfect Vision team has built a great company and from my perspective, the most innovative ophthalmic lasers in the industry."

Kristian Hohla, Ph.D., CEO of Technolas Perfect Vision, said, "Our systems for refractive and cataract procedures complement Bausch + Lomb's surgical portfolio and will help accelerate our expansion into the faster growing segments of the ocular surgery market. Together, we've proven our ability to introduce and market the highly innovative and differentiated Victus Femtosecond Laser Platform, and we look forward to working with our Bausch + Lomb colleagues to further advance ocular surgery using other laser-based technologies."