Dental laser maker BioLase Technology Inc. is getting into the eye care business.
The San Clemente-based company said Wednesday it plans to license ophthalmology-related patents from Orlando, Fla.-based SurgiLight Inc.
BioLase will pay about $2 million to license the patents. The deal is set to close in March.
SurgiLight makes lasers that are used in vision correction surgery. BioLase is licensing its technology related to Presbyopia, a product of natural aging that results in the loss of near-reading ability over the age of 40.
Some 110 million Americans suffer from Presbyopia, according to BioLase.
“We are pleased to acquire rights to this large market opportunity,” said BioLase Chief Executive Robert E. Grant. “While it is premature to discuss the specific commercial impact of this transaction to our forward business model, we are confident this agreement will open new commercial opportunities for Biolase’s core technology.”
