ESC Buys out Applied Optronics
YOKNEAM, Israel Medical laser giant ESC Medical Systems Ltd. has subsumed a smaller laser company, Applied Optronics Corp. of South Plainfield, N.J.
ESC officials expect that the acquisition will boost the company's presence in the solid-state diode laser market as well as improve its cosmetic laser research and development.
According to Tom Cekoric, president and CEO of Applied Optronics, financial figures relating to the amount of the buyout have not been made public and likely will not be. He said, however, that he is pleased with the agreement.
With Applied Optronics under its wing, ESC now has a captive source of laser diodes. Applied Optronics' core business is supplying laser diodes with visible and infrared wavelengths. According to Ken Clifford, Applied Optronics' sales and marketing manager, his company's main market is for medical and scientific applications such as surgical lasers and pumping lasers for diode-pumped solid-state laser systems. Applied Optronics, however, also has a medical division.
"This is good for both companies," Clifford said. "They get a supplier of laser diodes, and we get more money for research and development." Clifford added that while the agreement is still new, he does not expect any significant changes to his company's structure or day-to-day operations.
In January, Photonics Spectra reported that ESC merged with Laser Industries Ltd. to create one of the largest medical laser companies, with revenues for 1997 estimated at $185 million. G
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