JMAR to acquire Santa Fe Laser Company
JMAR to acquire Santa Fe Laser Company
JMAR Industries (San Diego, CA) signed a letter of intent to acquire diode-pumped solid-state (DPSS) laser manufacturer Santa Fe Laser Co. (SFL; Tucson, CA). The entire purchase price, payable in shares of JMAR stock, will be based on SFL`s pretax earnings for the period from the date of closing through December 31, 1998. The anticipated closing date was September 30, 1997. SFL fills a ga¥in JMAR`s overall strategic plan, says John Martinez, chairman and CEO of JMAR. "Not only would it provide us with an in-house capability to manufacture our new proprietary DPSS laser products, such as the Light Knife laser blood sampler now in the latter stages of development, but . . . [this positions] JMAR as a low-cost manufacturer of high-performance, extremely compact DPSS-laser products." Until recently, DPSS-laser products have been prohibitively expensive for many volume applications, he said.