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Summit Technology, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Divestiture of the ophthalmic laser firm's Lens Express mail-order contact lens distribution business unit to Strategic Optical Holdings, Inc. for $31 mil. cash plus a minority equity interest in SOH is outlined in a definitive agreement announced May 4. By divesting the unit, Summit will be better able to increase its focus on increasing its share of the laser vision correction market with its LADARVision system, the company explains. Summit had acquired Lens Express in early 1996 (1"The Gray Sheet" April 21, 1997, I&W-10)

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