Premier Laser Systems signs agreement with JOH International; largest Korean distribution commitment to date

Business Wire, Nov 27, 1995

IRVINE, Calif.--(BUSINESS WIRE)--Nov. 27, 1995--Premier Laser Systems Inc. (NASDAQ/NM:PLSIA) Monday announced that it has signed a two year agreement for distribution of certain of its medical and dental laser systems in Korea with Milwaukie, Ore.-based JOH International, a major medical supply and equipment company with facilities in Seoul.

According to Premier Laser, the agreement could generate revenues in excess of $5 million over that period if specified minimum purchases are made. The pact is the largest Korean commitment for Premier Laser to date and, though there is no guaranteed level of sales, the agreement requires the purchase by JOH of a minimum of 150 units during the first year to ensure exclusivity for certain dental lasers in Korea.

Acting as a master distributor, JOH will provide to its clients Premier Laser's Aurora(tm) Diode Laser System, the Arago(tm), an argon laser with CureRite(tm) technology, and the Centauri(tm), a proprietary and portable solid-state pulsed Erbium:YAG laser. Premier Laser Chairman, President and CEO Colette Cozean, Ph.D., said that shipments to JOH will commence during the current quarter. "Both companies anticipate a long and mutually fruitful relationship as the Pacific Rim marketplace continues its significant growth," she added.

"With JOH's experience over the last 15 years in distributing medical and dental supplies and equipment to the Korean market," Dr. Cozean continued, "we are confident they will be an effective partner in bringing our laser systems to the Korean medical and dental profession."

Established in 1980, JOH distributes medical and dental equipment, as well as supplies, throughout Korea for surgical applications in dentistry, gynecology, obstetrics, family practice, internal medicine, cardiovascular, ophthalmology, urology, orthopedics, dermatology and ENT.

Premier Laser develops, manufactures and markets lasers, laser waveguides, proprietary fiber optic delivery systems, disposables and associated accessory products for the medical market.

CONTACT: South Coast Communications

Owen Daley, 714/252-8440