Palomar Medical Technologies Forms Wholly-Owned Subsidiary to Expand Electronics Operations

Palomar Medical Technologies, Inc. (PMTI) has announced the formation of a wholly-owned subsidiary, Palomar Electronics Corporation, to optimize its electronics operations and exploit growing business opportunities. The subsidiary incorporates three acquired businesses, including Dynaco Corp., Dynasys Systems Corp., and Dynamem Corp. These companies design, manufacture, and sell interconnect products, proprietary personal computers, and patented memory modules, respectively. Palomar aims to capitalize on the rapidly growing markets for these products and achieve sustained and profitable growth over the next several years.

Key Takeaways:

• Palomar Medical Technologies has formed a wholly-owned subsidiary, Palomar Electronics Corporation, to optimize its electronics operations and exploit growing business opportunities.
• The subsidiary incorporates three acquired businesses: Dynaco Corp., Dynasys Systems Corp., and Dynamem Corp., which design, manufacture, and sell interconnect products, proprietary personal computers, and patented memory modules, respectively.
• The markets for these products are large and growing rapidly, presenting significant business opportunities for Palomar.
• Palomar has appointed an excellent management team to oversee the electronics operations and drive growth.
• The company aims to achieve sustained and profitable growth over the next several years.
• Palomar Medical Technologies develops, manufactures, and markets proprietary medical laser systems for cardiology and dermatology applications, facilitating superior healthcare at significantly lower cost.

Statistics:

• The subsidiary, Palomar Electronics Corporation, was formed to optimize Palomar's electronics operations and exploit growing business opportunities.
• The three acquired businesses, Dynaco Corp., Dynasys Systems Corp., and Dynamem Corp., will operate under the Palomar Electronics Corporation umbrella.
• The markets for interconnect products, proprietary personal computers, and patented memory modules are growing rapidly, presenting significant opportunities for Palomar.
• Palomar Medical Technologies has appointed an excellent management team to oversee its electronics operations.
• The company aims to achieve sustained and profitable growth over the next several years.

Sources:

• Palomar Medical Technologies, Inc. (Nasdaq: PMTI)
• /CONTACT: John J. Ingoldsby or Ronald C. Trahan of Ronald Trahan Associates, Inc., 508-651-1180, or Joseph P. Caruso of Palomar, 508-921-9300/