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ESC Medical to market Allegretto

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YOKNEAM, Israel — ESC Medical Systems Ltd. (NASDAQ: ESCM) has inked a deal with WaveLight Laser Technologie of Erlangen, Germany, granting ESC exclusive worldwide distribution rights for WaveLight's refractive laser products in most major markets, including the United States and Japan.

Specifically, this new deal grants ESC Medical distribution rights to the Allegretto Wave LASIK system WaveLight had originally granted to Coherent Medical Group. Coherent was acquired by ESC in April. ESC currently markets the devices in most Asian, European, Latin American and Middle Eastern markets.

"The wavefront technology employed by the Allegretto yields superior results compared with products existing in the market, and we have seen enthusiastic response by ophthalmologists," said Max Reindl, president and chief executive officer of WaveLight.

Under the terms of the agreement, ESC will be responsible for obtaining marketing approval for the Allegretto from the Ministry of Health, Wealth and Labor in Japan. In the United States, WaveLight is conducting a clinical study at 11 sites in preparation for seeking Food and Drug Administration marketing approval.

Following a legal registration procedure, ESC will be changing its name to Lumenis.