Johnson & Johnson announced it has completed the acquisition of Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott.

The all-cash $4.325 billion acquisition was originally announced September 16, 2016, and includes ophthalmic products in three areas of patient care: cataract surgery, laser refractive surgery and consumer eye health. These product lines will now join with the world-leading Acuvue Brand Contact Lenses business, and the combined organization will operate under the brand name Johnson & Johnson Vision (J&J Vision).

"With the addition of AMO's world-renowned ophthalmic surgery business, J&J Vision is poised to become a world leader in eye health," said Ashley McEvoy, company group chairman, Johnson & Johnson Consumer Medical Devices. "Sight is precious, it's the sense people fear losing the most. By bringing on board surgical solutions that are supported by the resources and global reach of Johnson & Johnson, we can improve and restore sight for more patients across the globe."

At nearly $70 billion, eye health is one of the largest, fastest-growing and most underserved segments in healthcare today.