Surgical Laser Technologies Acquires Surgical Innovations and Services

Surgical Laser Technologies Inc. (SLT; Montgomeryville, PA) announced it will acquire Surgical Innovations and Services Inc. (SIS), an Alabama-based provider of contract laser surgical services in the southeastern United States.

Under the agreement, SIS shareholders will receive 350,000 shares of SLT common stock and $300,000 in cash.

"The SIS business will add significantly, in several areas, to our growth strategy," said Michael R. Stewart, SLT's president and CEO. "The ability of SIS to incorporate new technologies into its service delivery model, including vertically integrating SLT's laser technology, will provide a basis for expanding, cost-effectively, the surgical options available to its customers.

"In addition, SIS' surgical technician workforce, which interacts with the customer base on a daily basis, can potentially provide a distribution channel for all of SLT's products, including our newly introduced disposable products, Bi-Frazier and ClearEss II," Stewart added.

Edited by Ursula Jones