Irvine Firm’s Deal Could Mean Up to $4 Million in Laser Sales

IRVINE — Premier Laser Systems Inc. will be the exclusive supplier of medical laser devices to a group of cosmetic surgery centers being developed in the United States, company officials said Tuesday.

The deal is part of a recently completed alliance between Irvine-based Premier and the developer of the surgery centers, Mattan Corp. of Calgary, Canada. The two companies have also agreed to a stock swap in which Premier will trade up to 200,000 shares of its common stock for up to 1.15 million shares of Mattan stock.

Premier will supply as many as five lasers to each of the 40 surgery centers Mattan plans to build, officials said. As a result, Premier could collect revenue up to $4 million, or $100,000 for each center, a company spokesman said.

Colette Cozean, chief executive of Premier, said the deal with Mattan “expands our potential to participate in the rapidly growing cosmetic surgery market, especially in the segment for same-day laser surgery procedures.”