In Brief: Palomar Medical Technologies/Coherent
This article was originally published in The Gray Sheet
Executive Summary
Palomar Medical Technologies/Coherent: Ink definitive agreement under which Coherent gains exclusive distribution rights to Palomar's EpiLaser laser-based hair removal systems in the U.S., Far East and "most countries in Europe," Palomar says. Under terms of the agreement, Coherent pays $3.5 mil. up front for the distribution rights, "a license to key patents relating to hair removal," and a three-year warrant to purchase shares of Palomar common stock with an exercise price of $5.25 per share. Coherent, with 200 direct sales reps, will be responsible for sales, marketing, service, training and education under the deal, for which the two companies signed a letter of intent in September ("The Gray Sheet" Nov. 3, p. 11)...