Skin care company PhotoMedex acquiring LASIK provider

PhotoMedex has agreed to acquire LCA-Vision for approximately $106.4 million, the companies have announced.

PhotoMedex, a global skin health company, provides products to dermatologists, aestheticians and consumers to treat psoriasis, vitiligo, acne, actinic keratosis and photodamage, according to a press release. LCA-Vision offers laser vision correction services under the LasikPlus brand. The transaction, expected to close in the second quarter of 2014, is subject to LCA-Vision shareholder and regulatory approvals.

“The combination of these synergistic businesses … [provides] a platform to establish company-owned XTRAC Psoriasis and Vitiligo Centers of Excellence and clinical dispensing of Neova products in LasikPlus facilities,” DolevRafaeli, PhD, PhotoMedex chief executive officer, said in the release. “We have a tremendous opportunity to leverage the LasikPlus infrastructure and … staff, which are currently underutilized. LASIK procedures are typically performed only 1 or 2 days a week. LasikPlus centers and staff are ideally suited for expanding procedures beyond LASIK to include XTRAC laser treatments for various dermatologic disorders such as psoriasis and vitiligo.

“We believe that with minor modification to the layout of the LasikPlus clinics, LASIK staffs will be able offer to dermatology patients the same high level of care and customer service with only modest staffing increases and incremental training.”

LCA-Vision will operate as a wholly owned subsidiary of PhotoMedex, with all 62 LasikPlus vision centers expected to remain intact, according to the release.