(Optics.org) Ophthalmology and aesthetic laser specialist Iridex is looking at ways to consolidate the fragmented market, as are rivals Cynosure and Cutera. Iridex, the medical laser company based in Mountain View, California, is the latest in the fragmented sector to suggest that more consolidation of the industry is required.
After posting a net income of $0.8 million on sales of $9.9 million in the second quarter of the year, the company stated that it was “looking at other strategic opportunities”, following its recent acquisition of the small private company RetinaLabs.
With investors keen for Iridex to grow business and thereby increase its presence within the financial community, pressure appears to be mounting for the company to initiate a merger or acquisition involving a company of a similar size.
The medical laser industry appears to be ripe for such consolidation, with a large number of relatively small companies vying for market share in applications such as dermatology, ophthalmology and aesthetic procedures.
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