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Visx, Medjet end merger, R&D agreements

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SANTA CLARA, Calif. — Visx terminated its merger and research and development agreements with Medjet, executives with the laser company announced. In accordance with the terms of the initial agreement, Visx will incur a charge of $250,000 in the fourth quarter of 2002.

The initial agreement, signed in August 2001, called for Visx to provide Medjet with funding to pursue new ophthalmic technologies and products based on its waterjet technology. At the time, Visx also signed an option to acquire all outstanding Medjet common stock.