Precision Optics Sells Patents for $2.5M

Precision Optics Corp. Inc. has announced the receipt of $2.5 million from Intuitive Surgical Operations Inc. of Sunnyvale, Calif., for all of its currently issued and nonexpired patents and pending patent applications.

According to the agreement, Intuitive Surgical, which manufactures minimally invasive robotic surgical systems, will grant the seller a royalty-free, worldwide license to these patents in fields outside of medical robotics.

With immediate use of the $2.5 million, Precision Optics intends to grow its business in Lenslock endoscopes, Microprecision optical elements, assemblies for medical imaging, and handheld stereoendoscopes that provide 3-D images during minimally invasive surgery.

Precision Optics manufactures optical and medical instruments, and micro-optics with characteristic dimensions less than 1 mm.

For more information, visit: www.poci.com