Alcon to Buy Staar for $1.5 Billion in Vision Surgery Expansion

Alcon Inc. agreed to buy Staar Surgical Co. for about $1.5 billion, giving the Swiss eye-care firm access to a new vision-correction treatment.

The company will pay $28 per share of Staar in cash, a 51% premium to Monday’s closing price, according to a statement. Alcon plans to raise debt to finance the purchase, which is expected to contribute to earnings growth in its second year.