69.8 F
Laguna Hills
Sunday, Jun 28, 2026

Advanced Medical Adds Activist Investor to Board

Advanced Medical Optics Inc. said Wednesday that it elected two new directors, including one from ValueAct Capital Partners LP, an activist hedge fund that’s the Santa Ana company’s largest stockholder.

The new directors are G. Mason Morfit, 32, a partner at San Francisco-based ValueAct, and Daniel Heinrich, 51, is senior vice president and chief financial officer for Clorox Co., the Oakland consumer products company.

The move increases Advanced Medical’s board to 10 members.

ValueAct’s Morfit also is a director at Valeant Pharmaceuticals International, the Aliso Viejo-based drug maker.

ValueAct is known as an activist shareholder that presses management to make changes. The fund now owns some 15% of Advanced Medical.

ValueAct and Jeffrey Ubben, its managing partner, opposed Advanced Medical’s $4.23 billion bid this summer for rival Bausch & Lomb Inc.

Advanced Medical eventually walked away from Bausch, which was bought by private equity firm Warburg Pincus LLC for $3.67 billion.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Would you like to subscribe to Orange County Business Journal?

One-Year for Only $99

  • Weekly in-depth coverage in print and digital formats
  • Special Features: OC's Wealthiest, Top Priced Home Sales, Giving Guide, OC500, Charity Event Guide, Best Places to Work, Indispensables, Largest Charitable Gifts
  • The annual Book of Lists: Orange County's top companies across every industry

Featured Articles

Related Articles