In Brief: LaserSight
This article was originally published in The Gray Sheet
Executive Summary
LaserSight: Company will focus resources on its laser platform for refractive surgery after gaining approximately $13 mil. from the sale of two of their subsidiaries, MEC Health Care and LSI Acquisition, to Vision Twenty-One. The deal, announced Dec. 31, gives LaserSight $6.5 mil. paid in cash at closing and about $6.5 mil. paid in common stock of Vision Twenty-One. The company estimated after-tax gain of $1.5 mil. to $2 mil. from the transaction, which is subject to post-closing adjustments. MEC Health Care administers HMO and self-insured vision plans; LSI Acquisition is a practice management company that oversees the ophthalmic business known as the Northern New Jersey Eye Institute...