Abbott Laboratories is due to buy Advanced Medical Optics (AMO) for $1.4 billion. AMO specialises in optical equipment such as Lasik surgery devices and cataract correction hardware.

The deal, set to take place in the next two weeks, will help Abbott to increase their portfolio and presence in the US medical market. Abbott specialise in a number medical fields, including pharmaceutical and surgery based endeavours.

Advanced Medical Optics has been struggling to make ends meet, even though demand for specialist surgeries, such as Lasik surgery, is on the rise. Abbott has agreed to take on the debt and pay the additional costs making the total value of buyout $2.8 billion.

Abbott will become a significant competitor in the eye care market once the acquisition is completed. With the constantly increasing want for laser eye surgery to correct vision problems, Abbott is sure the deal is a good one for both parties.

Lasik surgery has become more and more popular, as celebrities and sportspeople worldwide have been endorsing the practice. It is being touted as cost-effective in the long term and hassle-free. With the surgery itself lasting an average of 10-15 minutes per eye. Due to technological advances in the field, the success rate has increased dramatically in recent years.

(Source: Finanacial Times Online)

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