Bausch to buy lens maker

Bausch & Lomb announced Sunday that the eye health company planned to acquire Eyeonics Inc., a privately held Aliso Viejo company that makes a lens used in cataract repair.

Rochester-based Bausch & Lomb did not disclose financial terms. The transaction is expected to close in the first quarter.

Once acquired, Eyeonics will be wrapped into Bausch & Lomb’s surgical business, the company said. The U.S. surgical business will be led by J. Andy Corley, Eyeonics’ co-founder, chairman and chief executive, it said.

Eyeonics, founded in 1998, developed and markets the crystalens intraocular lens, which has been approved by the U.S. Food and Drug Administration for the treatment of cataracts. The intraocular lens replaces the eye’s natural lens and has been implanted in more than 95,000 eyes worldwide.

In 2007, Eyeonics generated revenue of about $34 million.