MUNICH, Germany—Bausch & Lomb, the global eye health company, and 20/10 Perfect Vision AG, the femtosecond laser developer, have completed their transaction to form a joint venture focused on the laser vision correction industry. Financial terms were not disclosed.

The new company—Technolas Perfect Vision—combines the refractive eye surgery assets of both businesses, and will utilize its global service and support infrastructure to introduce new, laser-based vision correction procedures, initially focusing on treatments for presbyopia, the companies said.

Technolas Perfect Vision is targeting the presbyopia market, providing clinicians with advanced excimer and femtosecond laser technology designed specifically to restore near vision in those patients who have lost the ability to visually accommodate. One of the new procedures is INTRACOR, an intrastromal treatment designed to restore near vision. INTRACOR has undergone the EC Conformity Assessment and now carries the CE Mark for the treatment of presbyopic hyperopes. Studies evaluating an even broader range of indications are already underway. It is not yet approved for sale in the U.S.

“These are breakthrough technologies, with the potential to transform the lifestyle of presbyopia sufferers and providing clinicians with a wonderful opportunity to attract new patients to their refractive practices,” said Kristian Hohla, Ph.D., chief executive officer, Technolas Perfect Vision. More information is available at www.technolaspv.com.