American Medical closes division sale |
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Tue, 16 Jan 2007 23:48
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MINNEAPOLIS (AFX) - Medical device maker American Medical Systems Holdings said Tuesday it completed the sale of its aesthetics division to Iridex Corp.The sale, announced in December, involved four patents and a license to another nine Laserscope patents for $26 million in cash and $2 million in unregistered shares. Iridex previously said it would also acquire between $7.3 million and $9.5 million in net assets.Shares of American Medical fell 3 cents to close at $19.88 on the Nasdaq Stock Market while shares of Iridex rose 20 cents, or 2.1 percent, to close at $9.59 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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