IRIDEX and Cutera Close Acquisition of IRIDEX' Aesthetic Business Unit

MOUNTAIN VIEW, Calif., Feb. 3, 2012  /PRNewswire/ -- IRIDEX Corporation (NASDAQ: IRIX) today announced that IRIDEX and Cutera, Inc. (NASDAQ: CUTR) have closed their previously announced purchase agreement for Cutera to acquire IRIDEX' aesthetic business for approximately $5.1 million.

Dominik Beck, Ph.D., president and chief executive officer of IRIDEX, said, "The energies and resources of the entire organization can now be focused on the substantial and growing ophthalmology opportunity that is core to IRIDEX' past and future successes. We intend on using that focus and all of our resources to drive growth in our core markets, where we enjoy brand leadership, by acquiring and developing additional consumable devices for use in the surgical setting and accelerating the adoption of MicroPulse™ technology - a new paradigm in the treatment of retinal diseases."

The parties also entered into an agreement for IRIDEX to supply Cutera with transitional product and service support for a time period not disclosed.

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