PhotoMedex to acquire LASIK provider

February 19, 2014

The skincare company PhotoMedex has signed a definitive agreement to acquire LASIK provider LCA-Vision for more than $106 million.

 

The skincare company PhotoMedex has signed a definitive agreement to acquire LASIK provider LCA-Vision for more than $106 million.

PhotoMedex - which offers products addressing skin conditions such as actinic keratosis, acne and psoriasis - has an opportunity to utilize infrastructure already in place with the LasikPlus facilities that LCA-Vision has, according to a news release, creating an avenue for even more business.

“LasikPlus centers and staff, who deal one-on-one with patients, are ideally suited for expanding procedures beyond LASIK to include XTRAC laser treatments for various dermatologic disorders such as psoriasis and vitiligo, as well as utilizing the patient interaction for additional clinical brand dispensing,” Dolev Rafaeli, Ph.D., PhotoMedex CEO, said in the statement.

Once the transaction has been completed, LCA-Vision is expected to operate as a wholly owned subsidiary of PhotoMedex. No layoffs are expected at LCA-Vision. Dr .Rafaeli noted the acquisition should allow for greater patient traffic at existing LCA-Vision centers.

“On average, psoriasis patients are treated with XTRAC twice per week for three to six weeks, twice a year and over the course of many years. In contrast, the current LCA-Vision model has virtually no repeat business and is mostly a private-pay procedure,” he stated. “We believe that with minor modification to the layout of the LasikPlus clinics, the professional and technical LASIK staffs will be able to offer dermatology patients the same high level of care and customer service with only modest staffing changes and incremental training.”