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Highlights
• Alcon to acquire STAAR Surgical for $28 per share, a 51% premium.
• Transaction values STAAR at approximately $1.5 billion in total equity.
• Deal expected to close within 6–12 months, pending regulatory and shareholder approvals.

Alcon (SIX/NYSE: ALC) and STAAR Surgical Company (NASDAQ: STAA) announced a definitive merger agreement under which Alcon will acquire STAAR in a transaction valued at approximately $1.5 billion. The deal, which includes the EVO Implantable Collamer® Lens (EVO ICL™) family, aims to expand Alcon’s surgical vision correction portfolio for patients with moderate to high myopia.

Under the terms of the agreement, Alcon will pay $28 per STAAR share in cash, representing a 59% premium to the 90-day Volume Weighted Average Price (VWAP) and a 51% premium to the August 4, 2025, closing price. The transaction is structured as an all-cash deal and is not subject to financing conditions. Alcon plans to finance the acquisition through a combination of short- and long-term credit facilities.

The EVO ICL technology addresses a broad range of vision correction needs, offering a minimally invasive, reversible procedure for patients who may not be ideal candidates for laser-based surgeries such as LASIK. The global prevalence of myopia continues to rise, with nearly 500 million people classified as high myopes today and projections indicating that 50% of the global population will be myopic by 2050.

STAAR’s leadership acknowledged that market fluctuations, particularly in China, have presented ongoing challenges in recent years. CEO Stephen Farrell and STAAR Board Chair Dr. Elizabeth Yeu emphasized that the acquisition delivers immediate and certain value to shareholders while providing STAAR with the operational scale and global reach of Alcon.

Alcon CEO David Endicott stated that the acquisition strengthens Alcon’s ability to provide comprehensive myopia management solutions, ranging from contact lenses to surgical interventions. The transaction is expected to be accretive to Alcon’s earnings by the second year post-closing.

The deal is subject to customary closing conditions, including regulatory review and approval by STAAR shareholders, and is expected to close within six to 12 months.