Valeant Pharmaceuticals’ affiliate has entered into a definitive agreement to acquire Synergetics USA, Inc. in a transaction valued at $166 million, with additional sales milestones following the closing. The transaction, subject to customary closing conditions, is expected to close in 4Q15. Synergetics is a supplier of precision surgical devices with a primary focus on ophthalmology and neurosurgery.
 
“The addition of Synergetics’ portfolio of instruments and devices will further enhance Bausch + Lomb’s presence around the world in the rapidly evolving field of vitreoretinal surgery,” said J. Michael Pearson , chairman and chief executive officer of Valeant.  “We are committed to delivering a valuable and broad array of surgical devices and instruments to serve the needs of the surgical retina community and their patients.”
 
“We are pleased to reach an agreement with Valeant, which is a logical partner to maximize our Company’s growth opportunities and, importantly, this agreement creates immediate and compelling value for our shareholders,” said David M. Hable, president and chief executive officer of Synergetics.  “The combined strengths of both companies will expand the breadth of our offerings and create a more effective competitor that is better able to meet our customers’ needs in the ophthalmology and neurosurgery markets.”