Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

Lumenis Buying HGM Medical Laser Systems

Photonics.com
Nov 2001
YOKNEAM, Israel, Nov. 9 -- Lumenis Ltd., formerly ESC Medical Systems Ltd., has executed a definitive purchase agreement to acquire HGM Medical Laser Systems Inc., a Salt Lake City developer and manufacturer of medical laser devices. The purchase price is $9.7 million in cash.

HGM has been marketing laser and delivery systems primarily to the ophthalmology market since the early 1980s. They have approximately 7,000 lasers installed around the world. FY2000 sales were approximately $7.8 million, with net income of $860,000. The transaction includes the purchase of a 50,000-square-foot facility valued at approximately $2.5 million.

"This transaction is part of Lumenis' strategy to grow through both organic development and strategic acquisitions. It strengthens our ophthalmic product offerings and signals our commitment to the ophthalmic business, which we acquired through the union with Coherent Medical Group," said Yacha Sutton, CEO and president of Lumenis.



Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.