Glaukos Continues its Evolution with Avedro Acquisition
Glaukos has been open about a plan to go beyond being a âjustâ a medical device company. During a presentation to investors at the 37th annual J.P. Morgan Healthcare Conference, San Clemente, CA-based Glaukosâ CEO Thomas Burns said the company was transforming into a âhybrid surgical/pharmaceutical/medical deviceâ 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 Glaukosâ plan to become a hybrid company as one of âSeven Key Moments that Defined the MIGS Industry.â
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. Avedroâs suite of single-use drug formulations is applied to the cornea and bio-activated to induce a reaction called corneal collagen cross-linking.
âAvedro 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: Omar Ford Tags: Implants Business Source Type: news
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