Bausch and Lomb acquires option to purchase TPV

Bausch and Lomb has acquired an option to purchase Technolas Perfect Vision (TPV), a leading provider of ophthalmology laser technology.

The eye health specialist has entered into a definitive agreement that will see it receive an option to buy all outstanding and unowned shares in TPV for up to 450 million euros (391 million pounds), based on the achievement of certain milestones.

TPV offers a range of advanced refractive and cataract technologies and was originally founded in 2009 as a joint venture between Bausch and Lomb and 20/10 Perfect Vision.

Bausch and Lomb will be working with TPV on the promotion and advancement of femtosecond laser platforms on a global basis.

Brent Saunders, chief executive officer of Bausch and Lomb, said: "We have tremendous confidence in TPV's femtosecond laser technology and the company's ability to deliver a platform that will meet the needs of doctors and patients well into the future."

This week has also seen the two organisations announce plans to introduce a new femtosecond laser innovation called Victus.