LAVAL, Quebec— Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX), based here, has entered into a definitive agreement to acquire Synergetics USA, Inc.  of O’Fallon, Mo., for $6.50 per share in cash, the companies announced on Wed., Sept. 2, 2015. In addition to the upfront cash payment, Synergetics stockholders will receive additional cash payments of up to $1.00 per share if specified sales milestones are achieved following the closing. The transaction is expected to close in the fourth quarter of 2015 and is subject to customary closing conditions and regulatory approvals.

“We are pleased to reach an agreement with Valeant, which is a logical partner to maximize our company's growth opportunities,” said David M. Hable, Synergetics’ president and CEO. “The combined strengths of both companies will expand the breadth of our offerings and create a more effective competitor that is better able to meet our customers' needs in the ophthalmology and neurosurgery markets.”

The board of directors of Synergetics unanimously approved the transaction. William Blair & Company, L.L.C. acted as the financial advisor to Synergetics, and Armstrong Teasdale LLP acted as legal advisor to Synergetics. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Valeant.

Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of eye health, dermatology, gastrointestinal disorder, neurology and branded generics.

Synergetics USA, Inc. is a leading supplier of precision surgical devices whose primary focus is on the surgical disciplines of ophthalmology and neurosurgery.