Valeant to Acquire Synergetics USA

Canada-based Valeant Pharmaceuticals reached an agreement to acquire Synergetics USA for $6.50 per share. Synergetics stockholders will also receive additional payments of up to $1 per share if specified sales milestones are achieved following the closing.

The transaction is expected to close in the fourth quarter of 2015.

Synergetics is a supplier of precision surgical devices with a focus on ophthalmology and neurosurgery.

Valeant CEO J. Michael Pearson says the transaction will help the company build its presence in the evolving field of vitreoretinal surgery. — Michael Cipriano