Ciba Vision to pursue strategic alternatives for its surgical business

Ciba Vision Corporation is considering strategic alternatives for its Surgical business, which includes the potential sale of that unit. The company has been focused on growing its Surgical business and has announced several key licensing and development agreements in the last two years.

"We believe that the value of our Surgical products and technologies can be better realized by a company focused on maximizing their growth potential', said Joe Mallof, Ciba Vision's Ceo. 'This will also allow us to focus on our core lens and lens care businesses'.

Ciba Vision has retained Bear Stearns as its investment banking firm to assist in exploring strategic options for its Surgical business.