Abbott sells eye surgery products unit to Johnson & Johnson
The fate of 5,300 workers in a unit sold Friday by Libertyville Township-based Abbott could be determined when the $4.3 billion deal closes early next year.
The unit, called Abbott Medical Optics, or AMO, is based in Santa Ana, California, and was sold to Johnson & Johnson in an all-cash deal that includes the unit's 12 facilities in the United States, The Netherlands, China and elsewhere. It has no offices in the Chicago area.
"This is an expansion for us because we have not been in this area before," Johnson & Johnson spokeswoman Donna Lorenson said.
AMO makes ophthalmic products for cataract surgery, laser refractive surgery and consumer eye health. The products include lenses that are often used to replace the natural eye lens that is removed during cataract surgery. The unit's consumer eye health products include over-the-counter drops for dry eyes, as well as multipurpose solutions and hydrogen peroxide cleaning systems for patients who wear contact lenses.
Whether all of the 5,300 employees would transfer to Johnson & Johnson would likely be known after the deal closes, Lorenson said.
Abbott bought AMO in 2009 for $2.8 billion and the unit gained market share along with its products, like Symfony, the first of its kind cataract lens, said Abbott spokeswoman Darcy Ross.