ESC Completes Acquisition of Coherent Medical

Apr 30, 2001, 01:00 ET from ESC Medical Systems Ltd

    YOKNEAM, Israel, April 30 /PRNewswire/ --
 ESC Medical Systems Ltd (NASDAQ:   ESCM) announced today that it closed the
 previously announced transaction to acquire the assets and assume the
 liabilities of Coherent Medical Group from Coherent, Inc. (NASDAQ:   COHR).
     ESC results for the second quarter ended June 30, 2001, will reflect the
 Coherent Medical Group results as of May 1.
     "With the close of this transaction we are the global leader in cutting-
 edge laser and light based technologies for medical and aesthetic
 applications," said Yacha Sutton President and CEO of ESC Medical Systems Ltd.
 "This acquisition elevates our capabilities in the aesthetic, surgical and
 ophthalmic marketplace.  Our management and employees are focused on
 delivering on the potential of the combination".
     ESC Shareholders will vote on a board proposal to change the corporate
 name to "Lumenis" at the upcoming shareholders meeting.
 
     ESC Medical Systems develops, manufactures and markets medical devices
 utilizing state-of the art proprietary intense pulsed light source and laser
 technology.  Its systems are used in a variety of aesthetic, surgical and
 medical applications, including the non-invasive treatment of veins and other
 benign vascular lesions, pigmented lesions, hair removal and skin
 rejuvenation, as well as ENT, OB/GYN and neurosurgery.  For more information
 about the Company, and its products log on to http://www.lumenis.com or
 http://www.escmed.com .
 
     Founded in 1966, Coherent, Inc, is a Standard & Poor's SmallCap 600
 company and a world leader in providing photonics based solutions to the
 commercial, scientific, medical, and telecom markets.  For more information
 about Coherent, visit the Company's Web site at http://www.coherentinc.com for
 product and financial updates.
 
     ESC cautions that certain forward looking statements contained in this
 announcement or other statements which may be made about the transaction,
 including, without limitation, the effect of the combination on ESC's earnings
 and cash flows, are qualified by important factors that could cause actual
 operating results to differ materially from those described herein or any such
 statements.  These factors could include, among others, the following: (i)
 factors disclosed from time to time in ESC's filings with the Securities and
 Exchange Commission; (ii) the occurrence of unanticipated events and
 circumstances which may render the transaction less beneficial to ESC than
 projected; (iii) the effect of the intense competition facing ESC and
 Coherent's medical group; and (iv) the inability of ESC to integrate
 successfully its operations with those of Coherent's medical group and thereby
 achieve the anticipated cost savings and other synergies and be in a position
 to take advantage of potential opportunities for growth.  Results actually
 achieved thus may differ materially from the expected results described herein
 or any such statement.  Please refer to ESC's Annual Reports on Form 10-K, its
 Current Reports on Form 8-K and its Quarterly Reports on Form 10-Q for a more
 detailed description of certain of these factors.
 
 

SOURCE ESC Medical Systems Ltd
    YOKNEAM, Israel, April 30 /PRNewswire/ --
 ESC Medical Systems Ltd (NASDAQ:   ESCM) announced today that it closed the
 previously announced transaction to acquire the assets and assume the
 liabilities of Coherent Medical Group from Coherent, Inc. (NASDAQ:   COHR).
     ESC results for the second quarter ended June 30, 2001, will reflect the
 Coherent Medical Group results as of May 1.
     "With the close of this transaction we are the global leader in cutting-
 edge laser and light based technologies for medical and aesthetic
 applications," said Yacha Sutton President and CEO of ESC Medical Systems Ltd.
 "This acquisition elevates our capabilities in the aesthetic, surgical and
 ophthalmic marketplace.  Our management and employees are focused on
 delivering on the potential of the combination".
     ESC Shareholders will vote on a board proposal to change the corporate
 name to "Lumenis" at the upcoming shareholders meeting.
 
     ESC Medical Systems develops, manufactures and markets medical devices
 utilizing state-of the art proprietary intense pulsed light source and laser
 technology.  Its systems are used in a variety of aesthetic, surgical and
 medical applications, including the non-invasive treatment of veins and other
 benign vascular lesions, pigmented lesions, hair removal and skin
 rejuvenation, as well as ENT, OB/GYN and neurosurgery.  For more information
 about the Company, and its products log on to http://www.lumenis.com or
 http://www.escmed.com .
 
     Founded in 1966, Coherent, Inc, is a Standard & Poor's SmallCap 600
 company and a world leader in providing photonics based solutions to the
 commercial, scientific, medical, and telecom markets.  For more information
 about Coherent, visit the Company's Web site at http://www.coherentinc.com for
 product and financial updates.
 
     ESC cautions that certain forward looking statements contained in this
 announcement or other statements which may be made about the transaction,
 including, without limitation, the effect of the combination on ESC's earnings
 and cash flows, are qualified by important factors that could cause actual
 operating results to differ materially from those described herein or any such
 statements.  These factors could include, among others, the following: (i)
 factors disclosed from time to time in ESC's filings with the Securities and
 Exchange Commission; (ii) the occurrence of unanticipated events and
 circumstances which may render the transaction less beneficial to ESC than
 projected; (iii) the effect of the intense competition facing ESC and
 Coherent's medical group; and (iv) the inability of ESC to integrate
 successfully its operations with those of Coherent's medical group and thereby
 achieve the anticipated cost savings and other synergies and be in a position
 to take advantage of potential opportunities for growth.  Results actually
 achieved thus may differ materially from the expected results described herein
 or any such statement.  Please refer to ESC's Annual Reports on Form 10-K, its
 Current Reports on Form 8-K and its Quarterly Reports on Form 10-Q for a more
 detailed description of certain of these factors.
 
 SOURCE  ESC Medical Systems Ltd