Alcon (NYSE:ALC) announced today that it completed its $475 million acquisition of glaucoma surgery device maker Ivantis.

Geneva, Switzerland-based Alcon initially announced the acquisition of Ivantis, which develops the Hydrus Microstent minimally invasive glaucoma surgery (MIGS) device, in November 2021.

According to a news release, the acquisition brings the immediate integration of Ivantis associates to ensure the continuity of the business and relationships with existing customers and allows Alcon to begin growth plans to bring Hydrus Microstent to more international markets and prioritize ongoing research.

Hydrus Microstent lowers intraocular pressure for open-angle glaucoma patients in connection with cataract surgery. A five-year study revealed that 65% of Hydrus Microstent patients remained medication-free at five years post-implant with a more than 60% reduction in risk of invasive secondary glaucoma surgeries compared to cataract surgery alone.

“We believe this transaction will further strengthen our global surgical portfolio and help provide a platform for more growth in the glaucoma space,” Alcon CEO David Endicott said in the release. “As we welcome Ivantis associates into Alcon, we look forward to introducing Hydrus Microstent on a broader, global scale in the near future to help even more patients see brilliantly.”

Alcon plans to pursue standalone surgery indications for Hydrus Microstent in the U.S. with clinical trials already underway and additional information about potential expansion set to be provided down the line.

Hydrus Microstent currently has U.S. FDA indication for the reduction of intraocular pressure in adult patients with mild to moderate primary open-angle glaucoma in conjunction with cataract surgery. In the UK, Canada, Australia, Singapore and Germany, the device is indicated for primary open-angle glaucoma in conjunction with cataract surgery and as a stand-alone procedure.