Boston, MA 02/14/2014 (wallstreetpr) – Cincinnati-based LCA-Vision Inc. (NASDAQ:LCAV), the retail optical services provider begins the day on a big opening. The stock has moved by 29.2% northwards. The vision-correction company saw its stock trading at $5.34 per share.
PhotoMedex Deal
LCA-Vision Inc.(NASDAQ:LCAV) noted the smart forward move in the after-trading hours as well, following the announcement by the company that it has closed a deal with PhotoMedexInc, a skin health company. The deal drawn up for the acquisition is valued at $106 million.
LCA-Vision Inc. (NASDAQ:LCAV) will now have higher consumer viewership, given the traffic the wellness and skin health clinics of PhotoMedex Inc. offer.
Meanwhile PhotoMedex is regarded as a bespoke developer as well as marketing concern which brings discerning consumers skin and health care solutions and wellness products. It has a global footprint with its clinic-based business model well established.
LCA-Vision Inc. (NASDAQ:LCAV) will see a major revenue source for its laser-based vision correction service as well as the XTRAC Excimer Laser. This technology platform is also found to be useful for treating vitiligo, as well as psoriasis. Additionally, it will be able to move it average-performing segment- Neova – to be combined on the Lasik Plus platform, given the better infrastructure as well as better services delivery staff.
LCA-Vision Inc. (NASDAQ:LCAV) and PhotoMedex will follow a senior debt facility to complete the deal. Following the Conference call on Feb 14, further details will be available.
Definitive Agreement
LCA-Vision Inc. (NASDAQ:LCAV) called it a definitive agreement and will be priced at $5,37 per share (the cash part) and will also include other modes for the $106.4 million. Both companies will have 30-days lay-off period to confirm the deal. The 30 day period is typically used to provide concerned parties to look around for other investors.
The conclusion of the deal will mean LCA-Vision Inc; will operate as a full-fledged subsidiary of PhotoMedex.
