Premier Laser to Buy EyeSys Technologies

Premier Laser Systems said Thursday it has signed an agreement to acquire EyeSys Technologies, a privately held developer and supplier of corneal diagnostic systems, in a $10.6-million stock transaction.

As part of the deal, Premier will exchange 165,000 options, at fair market value, with employees and holders of options and warrants of Houston-based EyeSys.

Premier said EyeSys will operate as a wholly owned unit and is expected to do business under the EyeSys brand name. Premier said the deal, which must be approved by EyeSys shareholders, is expected to be closed by June 30.

EyeSys had revenue of about $8.1 million last year. For the fiscal nine months ended Dec. 31, Premier had sales of $3.9 million.

Premier Laser Systems develops, manufactures and markets medical lasers.