After a contentious few months following Alcon’s proposed intent to acquire STAAR Surgical—a company best known for its line of FDA-approved implantable collamer lenses (ICLs)—a recent stockholder meeting failed to approve the merger.
Both companies announced the deal’s termination earlier this week.
Let’s get some background on the situation first.
It’s easier if we just direct you toward our prior coverage:
- See here for details on Alcon’s first announcement of its acquisition plans in August 2025.
- Click here for the update on Alcon increasing its offer price (and reducing executive payouts) in December 2025.
So … this sounds like a major turnaround from your last reporting on the deal.
Perhaps … but also not quite the surprise, considering that one of STAAR’s shareholders has been vocal in urging the company’s Board of Directors to reject Alcon’s original and revisited acquisition offer.
- Case in point: Broadwood Partners, a private investment firm owning over 30% of STAAR’s shares, referred to the deal as an “absurd sale process … plagued by missteps from the very beginning.”
This was despite Alcon bumping up its proposed offer to an estimated $1.6 billion (equating to an additional $150 million from its original offer).
And what led to the decision to terminate?
Preliminary results from a STAAR stockholders meeting held on Jan. 6, in which the company failed to receive the necessary votes to approve the merger agreement.
- Interestingly: This rejection was a contrast to both Alcon and STAAR’s Board of Directors already giving the green light to the deal.
In speaking on the Board’s decision, STAAR CEO Stephen Farrell noted that its approval was because “we determined that it was in the best interests of STAAR stockholders.”
- However, Farrell added that the Board would “respect the outcome of the [shareholder] vote.”
What did Alcon have to say about this?
Aside from sharing its decision to terminate the deal? Not much.
Instead: CEO David J. Endicott stated that the company will continue to concentrate on its refractive strategy—with the new wavelight plus offering a major focus.
- Quick refresh: Wavelight plus was introduced in September 2025 as the first fully personalized laser-assisted in situ keratomileusis (LASIK) treatment.
Endicott also shared that this next year will feature 10+ major international product launches in the company’s surgical and vision care franchises.