Medical Lasers Deal

A consortium led by Premier Laser Systems Inc. has tentatively agreed to purchase Illinois-based Medical Laser Institute of America from its Canadian parent, Calgary-based Mattan Corp., through a stock swap, Premier said Thursday.

Under the agreement, the consortium will exchange its shares in Mattan for shares in privately held Medical Laser Institute, which operates one cosmetic laser surgery center in the Chicago area. Premier purchased Mattan stock last year.

The consortium plans to develop additional centers in Illinois and California. The deal still must be approved by Mattan shareholders, Premier said.

Premier Laser Systems develops, manufactures and markets several lines of medical lasers, fiber optic delivery systems and associated other products.