Alcon (ALC) said Monday it is planning to acquire Lensar (LNSR) for a total consideration of about $430 million.

Under the terms of the deal, Alcon will purchase all outstanding shares of Lensar for $14 per share in cash, with an additional non-tradeable contingent value right offering up to $2.75 per share in cash, conditioned on the achievement of 614,000 cumulative procedures with Lensar's products between Jan. 1, 2026, and Dec. 31, 2027.

The acquisition includes the Ally Robotic Cataract Laser Treatment System, Streamline software technology, and Lensar's legacy laser system.

The transaction is expected to close in mid-to-late 2025.