Alcon and Lensar have entered into an agreement to terminate their previously announced merger agreement, according to press releases issued by both companies.

Commenting on the termination of the merger agreement, David J. Endicott, chief executive officer of Alcon, said, "Alcon continues to believe that the acquisition of Lensar would have significantly enhanced FLACS innovation and competition to the benefit of surgeons and patients. However, the delay and associated costs of this extended regulatory review, which began nearly a year ago, has rendered the transaction unattractive to pursue further in light of the Federal Trade Commission’s opposition. Alcon remains committed to advancing cataract surgery by delivering technologies that improve efficiency for surgeons and outcomes for patients.”

Lensar stated in its press release that while it understands that the Federal Trade Commission intends to seek to enjoin the acquisition contemplated by the merger agreement, Lensar and Alcon mutually agreed that terminating the merger agreement at this time is in the best interest of both companies, as the required closing condition of receiving necessary US regulatory approvals is unlikely to be met by the merger agreement’s outside date of April 23, 2026, or the potential extended outside date of July 23, 2026. Lensar said it will retain the $10 million deposit contemplated by the merger agreement.

“While we are disappointed with this outcome and the FTC’s intention to challenge the proposed transaction, we remain committed to advancing the field of cataract surgery through the continued market growth of our Ally Robotic Cataract Laser System,” said Nick Curtis, president and chief executive officer of Lensar. “We are focused on continuing to drive the expansion of ALLY’s global installed base and procedure volumes, and creating long-term value for patients, our surgeon partners and shareholders. We will share more detail on our strategy when we release our financial results on March 31, 2026.” OM