MUNICH-Bausch & Lomb (B&L) and 20/10 Perfect Vision--the femtosecond laser developer based in Heidelberg, Germany--will partner in a joint venture focused on laser vision correction. The new joint venture company, as yet unnamed, will combine the refractive eye surgery assets of both businesses, “delivering 20/10 Perfect Vision’s promising new technology for the correction of presbyopia in conjunction with Bausch & Lomb’s development expertise and worldwide commercial reach,” an announcement said.

The transaction is expected to close by the end of this year. The joint venture company will be based here and headed by Kristian Hohla, currently executive president of 20/10 Perfect Vision, a B&L spokesman told VM. Financial terms of the deal were not disclosed.

“This is a new company independent of B&L--one that will develop and market its own line of products including B&L’s Zyoptix platform, which will move into the new company along with our other refractive business assets,” the B&L spokesman explained.

“We believe that our investment of assets in the joint venture will help advance the refractive industry, benefiting ophthalmologists and patients worldwide,” said Gerald Ostrov, B&L’s chairman and chief executive officer. “20/10 Perfect Vision’s development of presbyopia-correcting treatments using its FEMTEC femtosecond laser--when paired with our proven refractive products, R&D insights and global sales and marketing resources--holds tremendous potential to stimulate growth in corneal refractive surgery.”

Added Hohla, “Combining innovative teams, visionary technologies and state-of-the-art refractive surgery products will yield a powerful portfolio of options for customers and patients.”

Bausch & Lomb currently develops and manufactures refractive surgery products including the Zyoptix Personalized Laser Vision Correction System, the Zyoptix XP microkeratome and related diagnostics products. 20/10 Perfect Vision develops and markets the FEMTEC femtosecond laser workstation, which makes possible proprietary, non-invasive intrastromal refractive procedures.