Friday, April 9, 2010

IRIDEX Buys Ophthalmology Products from RetinaLabs

Mountain View-based IRIDEX Corporation, a developer of laser-based medical devices, said today that it has acquired the ophthalmology products of RetinaLabs, based in Atlanta. According to IRIDIX, the acquisition covers substantially all of the assets of RetinaLabs, a developer of retinal instrumentation used by ophthalmologists to perform vitreoretinal procedures in the operating room and the surgery center. The deal was worth $250,000 in cash plus 115,000 shares of its common stock, plus undisclosed earn-out, or approximately $743K based on IRIDEX's closing price on Thursday.