In an announcement earlier this week, JJ Vision said the transaction represents another step in its strategy to become “a broad-based, global leader in eye health and further expands the company’s leading eye health portfolio.” In addition, JJ Vision noted that the acquisition marks its expansion into dry eye medical device technology and provides “a complementary eye health solution to address an important unmet need.”
The financial terms of the deal were not disclosed. JJ Vision initially announced the acquisition in August, as VMail reported.
“Dry eye is too often the culprit of why patients drop out of contact lenses or why they may have a less than optimal outcome from their cataract surgery,” Ashley McEvoy, company group chairman, said in the announcement. “The medical device technologies from TearScience will allow us to address the main underlying cause of dry eye, giving us a mechanical solution to a mechanical problem.” McEvoy is the JJ executive responsible for the Johnson Johnson Vision Companies.
Dry eye impacts an estimated 340 million people globally, and MGD, a chronic, progressive condition that can range from mild to severe pain, is the leading cause, according to the JJ Vision announcement. Patients with MGD may present in an optometrist’s office or at an ophthalmology appointment, so the disease is treated across the eyecare community.
JJ Vision said it acquired TearScience through its surgical vision operating company, Abbott Medical Optics Inc., which is based here in California. Sales will be reported in the medical devices segment, under Vision Care.