Abbott announced today a definitive agreement to acquire Visiogen, Inc., for $400 million cash, providing the company with a next-generation accommodating intraocular lens technology to address presbyopia for cataract patients.

Visiogen's accommodating IOL, called Synchrony, is designed to deliver improved vision at all distances, potentially eliminating the need for glasses or contact lenses. Synchrony has been implanted in more than 1,200 eyes and has been the subject of extensive clinical studies both in the United States and internationally. It is currently under review by the FDA. Abbott currently markets the Tecnis multifocal lens.

Dan O'Connor