Wavelight changes relationship with Lumenis

March 22, 2004
Erlangen, Germany, March 15, 2004 WaveLight Laser Technologie has terminated its distribution contracts with Lumenis (Yokneam, Israel) in Europe and other areas outside of the United States

Erlangen, Germany, March 15, 2004 WaveLight Laser Technologie has terminated its distribution contracts with Lumenis (Yokneam, Israel) in Europe and other areas outside of the United States. Lumenis has been marketing Wavelight's Allegrate Wave excimer laser for refractive surgery under exclusive agreements in the United States, China, and most major countries in Europe. WaveLight says it plans to implement a new sales concept that will promote a more independent and focused approach to the European and Asian markets.

"Our new sales concept creates a foundation that will enable us to market our leading laser systems for refractive surgery even more efficiently and flexibly in the future," said Max Reindl, CEO of WaveLight Laser. WaveLight has already established contacts in the Asian market and is working to establish a new sales organization in other regions of the world.

According to Lumenis, the two companies have been in discussions to restructure their relationship and are still negotiating the future of their partnership in the United States, where Lumenis serves as the exclusive sales agent in the U.S. responsible for marketing, sales and service and support.

"As part of our turnaround plan we have been evaluating all of our business activities to improve our profitability. An important step was to renegotiate the distribution agreements with Wavelight, which did not meet our profitability objectives," said Avner Raz, president and CEO of Lumenis. "We are disappointed that Wavelight has decided to issue a notice of termination during these discussions."

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