Johnson & Johnson announced on Friday that it has offered Abbott Laboratories $4.325 billion in cash for eye health unit Abbott Medical Optics.
The company announced in a statement that the deal will be “modestly accretive immediately to adjusted earnings per share.” The transaction is expected to close in the first quarter of next year.
Ashley McEvoy, company group chairman, said in a statement, “Eye health is one of the largest, fastest growing and most underserved segments in health care today.”
“The acquisition will help J&J “become a more broad-based leader in vision care.”
The billion dollar deal includes AMO’s consumer eye health products, cataract surgery business and advanced laser vision (LASIK) technology.
Disclaimer: We have no position in Johnson & Johnson (NYSE: JNJ) and have not been compensated for this article.