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In Brief: Helionetics/Laser Photonics

This article was originally published in The Gray Sheet

Executive Summary

Helionetics/Laser Photonics: U.S. Bankruptcy Court for the Middle District of Florida confirms a reorganization plan for diode and gas laser system manufacturer Laser Photonics under which Helionetics acquires 75% of common stock in Laser Photonics in exchange for the transfer to Laser Photonics of its 75% stake in excimer laser firm AccuLase and $1 mil. in cash. Helionetics says that Laser Photonics, which reported a 1994 loss of $600,000 on sales of $5.3 mil., will offer "laser manufacturing capabilities" that could accelerate AccuLase's commercialization of its transmyocardial revascularization and laser angioplasty products. In addition, Laser Photonics has developed a "relatively small excimer laser prototype" that could be used in "emerging technologies, such as photorefractive keratectomy," Helionetics says...

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