Premier Laser Makes Bid for Ophthalmic

Premier Laser Systems Inc. said Friday it has offered to acquire Sacramento-based Ophthalmic Imaging Systems Inc. for $4.73 million.

Premier Laser said it would pay $1.75 a share for all of the 2.7 million shares of Ophthalmic common stock that the Irvine company doesn’t already own. Ophthalmic stock closed unchanged Friday at $1.50 a share.

The cash offer will be withdrawn if it is not accepted by 5 p.m. Thursday, Premier said. The laser manufacturer said it has purchased about 29% of Ophthalmic Imaging’s outstanding shares in open-market transactions during the past several months.

Premier Laser said Ophthalmic Imaging must modify its recently adopted shareholder rights plan to permit the acquisition to proceed.

An Ophthalmic Imaging representative declined to make an immediate comment.

Irvine-based Premier Laser, a maker of medical lasers and other medical and dental products, said Ophthalmic Imaging’s products “would make a nice fit” with its products. Ophthalmic makes diagnostic digital imaging systems.