ESC Medical To Buy Coherent's Medical Laser Unit

JERUSALEM, Feb 13 -- The Israeli medical laser company ESC Medical reportedly has agreed to acquire the medical laser division of Coherent Inc. for $120 million, according to a report in the newspaper Maariv. Reuters News Agency reported that the newspaper said the deal will be split between cash and a stock swap and noted ESC's revenues would rise to $300 million a year from $130 million. The deal would make ESC one of the world's largest companies in the medical laser industry. Reuters said that ESC declined to comment on the report, although a company spokeswoman said it was negotiating with several entities.