New partners for Premier Laser

17 Jun 2002

Premier Laser Systems (Irvine, CA) signed a letter of agreement for a strategic alliance with Mattan Corp. (Calgary, Canada), and its subsidiary, The Medical Laser Institute of America (Chicago, IL). Under the terms of the letter, Premier will be the exclusive supplier of laser systems for a series of cosmetic surgery centers being developed in the United States by The Medical Laser Institute of America. Premier plans to exchange $835,000 of Premier common stock for up to 1.15 million shares of Mattan common stock, which is traded on the Alberta Stock Exchange.

Working in conjunction with the Brennan Group, a privately held California-based consortium of plastic and reconstructive surgeons, Mattan plans a series of centers in health-care and commercial locations in major US markets. Under the arrangement, each center will purchase from Premier Laser the center's entire stock of laser systems and disposables, projected at three to five systems per center. The systems are expected to include Premier's Er:YAG and Nd:YAG systems.

Premier also signed a two-year distribution agreement with JOH International (Milwaukie, OR), a medical-supply and medical-equipment company with facilities in Seoul, Korea. Under terms of the agreement, JOH will distribute certain Premier medical and dental lasers in Korea.Courtesy Laser Focus World Laser Report. All rights reserved