Ophthalmic Rejects Premier Buyout Bid

Ophthalmic Imaging Systems Inc. said Monday that it has rejected a buyout offer by Premier Laser Systems Inc.

Ophthalmic said it plans to continue discussions with Premier Laser, which was bidding to acquire 49% of the Ophthalmic stock that the Irvine laser manufacturer doesn’t already own.

In a press release Monday, Ophthalmic said the offer was inadequate. Premier Laser offered to exchange 85 cents worth of Premier Laser stock for each Ophthalmic share.

Nasdaq-listed shares of Premier Laser closed Monday at $2.16, up 3 cents.

Sacramento-based Ophthalmic develops, makes and markets digital imaging and imaging enhancement systems and analysis software.

Premier Laser makes and markets medical lasers, fiber optic delivery systems and products for dental, ophthalmic and surgical uses.