The U.S. Federal Trade Commission (“FTC”) effectively prevented the proposed acquisition of LENSAR, Inc. by Alcon, Inc. following the identification of significant competitive concerns during its investigation. The FTC’s Bureau of Competition concluded that the transaction would result in the combination of the two leading firms operating in the market for femtosecond laser-assisted cataract surgery (FLACS) systems. It was established that the parties were engaged in vigorous price competition, which generated substantial benefits for both surgeons and patients, while simultaneously fostering innovation within the sector.
The FTC emphasized that the proposed merger was likely to eliminate this competitive dynamic, thereby leading to increased prices and a reduction in innovation. Furthermore, the transaction was assessed as an attempt to evade competitive pressure rather than to compete on the merits. The evidence gathered throughout the investigation indicated a substantial likelihood of consumer harm. Considering these concerns and the prospect of enforcement action, the parties abandoned the transaction prior to the initiation of formal litigation by the FTC.
(FTC – 17.03.2026)
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