Biolase Technology Buys Face Lift Tech Firm

Biolase Technology Inc. said Tuesday that it acquired the assets of Laser Skin Toner Inc. for 1.65 million shares of stock, worth nearly $6 million.

Biolase, a San Clemente-based developer of medical and dental laser systems, also agreed to provide contingent shares for future performance.

The company said the acquisition includes Laser Skin’s “no-incision face lift” and stretch-mark removal system. Laser Skin received two patents for its technology. The company expects to receive Food and Drug Administration clearance for distribution as early as the first quarter of 1999.

Biolase stock closed Tuesday at $3.63 a share, off 6 cents.