ESC Medical Systems and Laser Industries Ltd. to merge

17 Jun 2002

ESC Medical Systems Ltd. and Laser Industries Ltd. have signed an agreement to combine the two companies through an exchange of shares. The two Israeli-basedcompanies project combined revenues of $185 million this year. The transaction is valued at approximately $270 million and will combine ESC's pulsed light sourcedevices, lasers and other products used for invasive cosmetic and other medical procedures with Laser Industries' technologies for skin resurfacing, hair removal,surgery, and other medical applications.