Ophthalmic Imaging Systems set for MediVision merger

Digital imaging specialist Ophthalmic Imaging Systems (OIS) is set to merge with Israeli firm MediVision Medical Imaging in a stock-for-stock transaction. The merger, which is expected to close during the third quarter of 2008, will see each MediVision share be converted into 1.66 shares of OIS common stock, for a total of 11.3 million OIS shares. The deal sees Yokneam Elit-based MediVision - OIS' majority shareholder prior to the transaction - become a subsidiary of OIS.

OIS (Sacramento, California) will gain MediVision's product pipeline of digital eyecare equipment, its R&D, sales and distribution capabilities, and its...