April 12, 2010 (FinancialWire) — Iridex Corp. (NASDAQ: IRIX) said that it has acquired certain assets from privately held RetinaLabs, Inc., a Georgia-based firm that develops and markets retinal instrumentation used by ophthalmologists to perform vitreoretinal procedures in the operating room and the surgery center.

Under the terms of the deal, Iridex has acquired substantially all of the assets of RetinaLabs, including its existing product family together with certain additional intellectual property that Iridex said it anticipates incorporating into future products.

The purchase price for the acquired assets consisted of $250,000 in cash consideration and 115,000 unregistered shares of Iridex common stock issued at closing, and an earn-out.

Iridex said the earn-out is tied to future revenues and could result in additional cash and share consideration to RetinaLabs based on the future performance of the acquired products and intellectual property.

Other terms of the transaction were not disclosed.

Theodore A. Boutacoff, president and CEO of Iridex, said, “This acquisition represents a step towards executing this strategy and we expect it to be accretive in the near term.”

California-based Iridex is engaged in developing, manufacturing, and marketing laser-based medical systems and delivery devices. We provide solutions for multiple specialties, including ophthalmology, dermatology and otolaryngology.

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