Revlon Group agreed to sell its Technicon unit.

A Revlon statement said the acquirers of Technicon, including an investment firm called Cooper Development, a unit of Palo Alto-based Coopervision, are to pay $250 million in cash and $50 million principal amount of preferred stock. The transaction is subject to, among other conditions, approval by Cooper Development shareholders, Revlon said. Technicon manufactures and markets high-technology medical diagnostic systems.