Iridex to Buy Laserscope Business

Iridex Corp. of Mountain View, CA has agreed to buy the laser aesthetics business of San Jose, CA-based Laserscope, a provider of medical laser systems, from American Medical Systems Holdings.
    
Iridex manufactures semiconductor-based laser systems used to treat eye diseases and skin lesions. American Medical, a Minnetonka, MN-based manufacturer of urological devices, bought Laserscope earlier this year.

Under the terms of the deal, Iridex will buy certain assets and liabilities of Laserscope, including four patents and a license to another nine Laserscope patents, for about $26 million in cash and $2 million in unregistered shares.

Iridex said it will also acquire between $7.3 million and $9.5 million in net assets, including accounts receivable. The company said it will use a combination of cash and bank financing to close the deal, which is expected by early January.