- PhotoMedex (NASDAQ:PHMD -5.3%) sells it LCA-Vision subsidiary to Vision Acquisition LLC for $40M in cash, netting $35.3M after fees and working capital adjustments.
- LCA-Vision operates 59 LaskiPlus vision centers in the U.S., 51 full service fixed-site laser vision correction centers and eight pre- and post-operative satellite centers.
- Vision Acquisition grants PhotoMedex sole and exclusive rights to provide certain excimer light source products, systems and equipment to LCA-Vision for the next seven years. Terms will be determined on a center-by-center basis.
- Proceeds will be used to pay down debt.