Palomar Medical Technologies Inc. of Lexington, Mass., may be on the verge of inking a deal to sell off its subsidiary, Star Medical Technologies Inc. of Pleasanton, Calif. Star Medical is a supplier of proprietary laser systems for hair removal and other cosmetic treatments.
Palomar and Coherent Inc. of Santa Clara, Calif., have been involved in negotiations for several months, but significant issues regarding the terms of the transaction remain unresolved. According to press releases from both companies, the asking price is expected to be between $60 million and $65 million.