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.

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