Definitely a major target for these companies. The synergy...

Definitely a major target for these companies. The synergy benefits would be massive, and for them this would be looking incredibly cheap given they were acquiring arguably inferior stent-based devices at a 15x premium to EYE's current valuation. Not to mention with Alcon specifically, their Hydrus device which they acquired from Ivantis for over $700m, is often used in combination with iTrack Advance. Makes a lot of sense for them to make a bid given how well the two devices complement each other. Now that canaloplasty has suddenly moved into the spotlight thanks to better reimbursement, but more importantly better safety/efficacy, I suspect they will be taking a close look at adding this product. The increased reimbursement certainty and very positive attention EYE's device gained in the medical community as well thanks to the recent LCD situation should certainly help generate interest from potential acquirers.

However, they will have to make a very appealing offer. Several large investors who have been in this for a while and are quite bullish on the outlook have a blocking stake, and will refuse any offer that does not represent fair value. Ethical Investment Australia alone have almost 20%, and they seem like the type who would force any bidder to make several higher offers before coming to an agreement.