Glaukos Continues its Evolution with Avedro Acquisition

Glaukos has been open about a plan to go beyond being a “just” a medical device company. During a presentation to investors at the 37th annual J.P. Morgan Healthcare Conference, San Clemente, CA-based Glaukos’ CEO Thomas Burns said the company was transforming into a “hybrid surgical/pharmaceutical/medical device” firm. Glaukos is the frontrunner in Micro-invasive glaucoma surgery (MIGS) and was the first to have an approved device in the space. MD+DI named Glaukos’ plan to become a hybrid company as one of “Seven Key Moments that Defined the MIGS Industry.” Last week, Glaukos made good on the plan by announcing it would acquire Avedro, a hybrid ophthalmic pharmaceutical and medical technology company in an all-stock transaction. The deal is expected to close in 4Q19. Waltham, MA-based Avedro develops bio-activated pharmaceuticals that strengthen, stabilize, and reshape the cornea to treat corneal ectatic disorders and correct refractive conditions. Avedro’s suite of single-use drug formulations is applied to the cornea and bio-activated to induce a reaction called corneal collagen cross-linking. “Avedro is an ideal strategic fit for Glaukos as evidenced by the striking similarities between our two companies - we are both … pioneering an entirely new market,â...
Source: MDDI - Category: Medical Devices Authors: Tags: Implants Business Source Type: news