LENSAR Becomes Subsidiary of PDL, Gains FDA Clearance for Laser Integration with Pentacam, Aladdin

May 12, 2017: By Joan McKenna

LensarLENSAR, Inc., announced May 11 that it has completed its financial restructuring, with a court-approved exit plan from bankruptcy. As part of the plan, PDL BioPharma will convert most of its debt to an equity ownership position. LENSAR will become a wholly owned subsidiary of PDL, and PDL will begin to consolidate LENSAR’s financial statements.

LENSAR is one of five companies marketing femtosecond lasers for cataract surgery. The Orlando, Florida, company declared bankruptcy in December 2016 in a strategic restructuring designed to separate the business from Alphaeon—Alphaeon acquired LENSAR in late 2015 for a reported $59 million.

On May 5, LENSAR announced it had gained US FDA 510(k) clearance for integration of the Oculus Pentacam and Topcon Aladdin topographers with the LENSAR Laser System with Streamline III.

The LENSAR laser already provided direct integration with the Cassini Corneal Shape Analyzer and the Nidek ODP.

LENSAR describes its next-generation system as designed to help surgeons “manage astigmatism with extreme treatment planning insights.” The company said its incorporation of the diagnostic technology expands the potential customer base.

“Our open architecture platform allows surgeons to use the diagnostic devices they trust to guide treatment and manage astigmatism using our laser’s exclusive features to ultimately deliver the outcomes and experience today’s patients demand from an advanced cataract procedure,” said Nicholas Curtis, CEO of LENSAR.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

Quidel Acquires RPS’ InflammaDry, AdenoPlus Ophthalmic Diagnostic Tests

Gottlieb Says US FDA Can Help Reduce Drug Prices through Generics, Biosimilars

ONL Therapeutics Closes $4.25 Million Series A Financing

Omeros’ Omidria Revenues Total $12.3 Million in Q1-2017

Finland Eye Care Provider Silmäasema Oyj Plans IPO to Raise €35 Million

Alcon Introduces SYSTANE ICAPS Chewable Eye Vitamin

Aerie’s Rhopressa Gets Target Action Date from US FDA

STAAR’s EVO+ Visian ICL with Aspheric (EDOF) Optic Receives CE Mark Approval

Refocus to File for US Approval of VisAbility for Presbyopia in Q3-2017

Trial for James Mazzo Ends in Hung Jury; Co-defendants DeCinces, Parker Convicted

Alcon Names Stephen S. Lane, MD, as Chief Medical Officer

Allergan’s Restasis Sales Increase 3.4 Percent in Q1-2017

Ophtec Secures CE Marking for Aspheric Presbyopia-Correcting IOL

LENSAR Becomes Subsidiary of PDL, Gains FDA Clearance for Laser Integration with Pentacam, Aladdin

Bausch + Lomb Posts Q1-2017 Revenues of $1.15 Billion in ‘Solid Quarter’

Carl Zeiss Meditec’s Revenues Grow 8.6 percent in First Half of Fiscal Year

Hoya’s Reports Strong IOL Sales in Fiscal 2017 Fourth Quarter

Shire Licenses Parion’s P-321 for Dry Eye Disease

Imprimis’ Ophthalmic Sales Grow 105 Percent in Q1-2017

Bernie Haffey Named Chief Commercial Officer at SightLife Surgical

Coming soon

2017 Ophthalmic Laser Report: A Global Market Analysis for 2016 to 2022 (Photocoagulation, Photodisruption, and SLT)