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Ellex acquires ophthalmic ultrasound company

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ADELAIDE, Australia — Ellex Medical Lasers Ltd. has acquired Innovative Imaging Inc., the manufacturer of the Imaging I3 System and other ophthalmic diagnostic ultrasound systems, according to a press release from Ellex.

Ellex has made a base payment of $1 million and will make three consecutive annual payments based on the performance of the business, according to the release. Concurrent with the agreement, Athy Kalatzis, vice president of business development at Ellex, has become general manager of Innovative Imaging, the release said.

The acquisition of the U.S. ultrasound company is part of Ellex's newly announced direct marketing strategy, and it is expected to increase the company's earnings per share for this financial year, according to the release.