Lensar has announced the termination of its planned acquisition by Alcon, citing unresolved regulatory concerns as the main reason for ending the deal.
The termination comes following scrutiny from the US Federal Trade Commission (FTC), which indicated it would oppose the transaction.
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In March 2025, Alcon agreed to acquire Lensar for an implied value of approximately $356m.
Lensar is known for developing the Ally robotic cataract laser treatment system, alongside Streamline software technology and the Lensar legacy laser system.
These technologies were expected to strengthen Alcon’s femtosecond laser-assisted cataract surgery (FLACS) portfolio.
Despite initial expectations for a mid-to-late 2025 closing, the deal remained pending nearly one year after the agreement.
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By GlobalDataBoth companies recognised the FTC’s intention to block the acquisition and decided it was in their best interests to terminate the merger, as they cannot complete it without the required regulatory approvals before the 23 April 2026 cut-off or the extended 23 July 2026 deadline.
Under the original agreement, Lensar will retain a $10m deposit.
Lensar president and CEO Nick Curtis said: “While we are disappointed with this outcome and the FTC’s intention to challenge the proposed transaction, we remain committed to advancing the field of cataract surgery through the continued market growth of our ALLY robotic cataract laser system.
“Since its commercial introduction in 2022, we believe it has become clearer every day that ALLY is the future of refractive cataract surgery. With ALLY, we were able to significantly extend our technology leadership position, established on the strength of our previous-generation LLS platform.
“We have expanded our footprint and LENSAR’s influence in the space, which supported market share gains and significant procedure growth.”
