Alcon’s $285 Million Acquisition of PowerVision


Arnold & Porter represented Alcon Laboratories, Inc. (Alcon), the global leader in eye care and a division of Novartis on the deal

Alcon Laboratories, Inc. (Alcon), the global leader in eye care and a division of Novartis, executed its $285 million acquisition of PowerVision Inc. (PowerVision), a medical device development company focused on creating fluid-based intraocular lens implants.

The transaction includes $285 million paid to PowerVision at closing with additional payments based on specified regulatory and commercial milestones starting in 2023. The transaction is the exercise of an M&A Option that Arnold & Porter advised on in 2016.

Alcon’s acquisition demonstrates its commitment to innovating advanced technology intraocular lenses (AT-OIOLS), which help cataract surgery patients. By acquiring PowerVision’s unique lens technology, patients can obtain a natural, continuous range of vision. Following additional development and clinical trials of the intraocular lens, commercial availability of PowerVision’s IOL technology will be determined.

The Arnold & Porter team includes Corporate & Finance partners Derek Stoldt (Picture) and Aaron Gardner, counsel Eric Rothman and associate Bianca Prikazsky; Tax partner Laurie Abramowitz and senior associate Sarah Soloveichik; Employment and Benefits counsel Kathleen Wechter and associate Kathryn Geoffroy; Government Contracts and National Security partner Charles Blanchard and counsel Nicholas Townsend; and Intellectual Property associate Morgan Xu. Corporate & Finance partners Derek Stoldt and Nicholas O’Keefe worked with associate Tyler Conway on Alcon’s 2016 M&A Option.

Involved fees earner: Laurie Abramowitz – Arnold & Porter Kaye Scholer LLP; Charles Blanchard – Arnold & Porter Kaye Scholer LLP; Tyler Conway – Arnold & Porter Kaye Scholer LLP; Aaron Gardner – Arnold & Porter Kaye Scholer LLP; Kathryn Geoffroy – Arnold & Porter Kaye Scholer LLP; Bianca Prikazsky – Arnold & Porter Kaye Scholer LLP; Eric Rothman – Arnold & Porter Kaye Scholer LLP; Sarah Soloveichik – Arnold & Porter Kaye Scholer LLP; Derek Stoldt – Arnold & Porter Kaye Scholer LLP; Nicholas Townsend – Arnold & Porter Kaye Scholer LLP; Kathleen Wechter – Arnold & Porter Kaye Scholer LLP; Xianfeng Xu – Arnold & Porter Kaye Scholer LLP; Nicholas O’Keefe – Kaye Scholer;

Law Firms: Arnold & Porter Kaye Scholer LLP; Kaye Scholer;

Clients: Alcon Laboratories Inc.;

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Author: Ambrogio Visconti