Bausch & Lomb and 20/10 Perfect Vision AG, the femtosecond laser developer, announced that they have completed the transaction to form a joint venture focused on the laser vision correction industry.

The new company — Technolas Perfect Vision — combines the refractive eye surgery assets of both businesses, and will utilize their global service and support infrastructure to introduce new, laser-based vision correction procedures, initially focusing on treatments for presbyopia.

Technolas Perfect Vision is targeting the lucrative presbyopia market with its INTRACOR intrastromal treatment designed to restore near vision.

INTRACOR has undergone the EC Conformity Assessment and now carries the CE Mark for the treatment of presbyopic hyperopes. Studies evaluating an even broader range of indications are underway. INTRACOR is not yet approved for sale in the United States.

“These are breakthrough technologies, with the potential to transform the lifestyle of presbyopia sufferers and providing clinicians with a wonderful opportunity to attract new patients to their refractive practices,” said Kristian Hohla, Ph.D., chief executive officer, Technolas Perfect Vision.