AI Systems Agrees to Buy Phoenix Firm

Advanced Interventional Systems said Tuesday that it has agreed to purchase Phoenix-based Polymicro Technologies Inc. for an undisclosed sum.

Polymicro supplies Advanced Interventional with fiber-optic products used in the Irvine company’s laser angioplasty system, which recently received federal Food and Drug Administration approval for treating heart disease.

Additional details of the acquisition were not released.

Polymicro had revenue of $6.8 million for its fiscal year ended July, 1991, according to Advanced Interventional. Polymicro will continue to operate as an independent subsidiary.