ESC Medical Extends Distribution with WaveLight Laser Technologie

YOKNEAM, Israel, August 1 -- ESC Medical Systems Ltd., to be renamed Lumenis Ltd., and WaveLight Laser Technologie AG, of Erlangen, Germany, have signed an agreement granting ESC Medical exclusive worldwide distribution rights for WaveLight's refractive laser products in most major markets, including the United States and Japan.

This new agreement amends the previous contract between WaveLight and Coherent Medical Group -- which was acquired by ESC Medical in April -- for distribution of the Allegretto Wave LASIK laser system and extends the relationship to include the United States and Japan. As part of the previous agreement, ESC Medical currently markets WaveLight refractive devices in most Asian, European, Latin America and Middle East markets. The contract excludes rights in several countries where WaveLight has pre-existing agreements in effect.