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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: Bernard who wrote (1330)	8/12/1999 1:37:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 1386

(BSNS WIRE) Summit Technology, Inc. Announces Pricing of Offering Summit Technology, Inc. Announces Pricing of Offering Business/Technology Editors WALTHAM, Mass.--(BUSINESS WIRE)--Aug. 12, 1999--Summit Technology, Inc. (NASDAQ:BEAM) today announced the public offering of 3,500,000 shares of its common stock priced at $16.00 per share. The offering is being managed by Hambrecht & Quist LLC, U.S. Bancorp Piper Jaffray and Dain Rauscher Wessels, a division of Dain Rauscher Incorporated. A copy of the final prospectus relating to the offering may be obtained from Hambrecht & Quist LLC, One Bush Street, San Francisco, California 94104 (415.439.3423). "With this infusion of capital Summit can accelerate the launch of the LADARVision system and continue to aggressively pursue our key corporate objectives," stated Robert J. Palmisano, Chief Executive Officer of Summit. "We will remain focused on gaining the broadest range of FDA approvals for our systems and becoming the preeminent provider of refractive vision correction products to ophthalmologists, clinics and hospitals," continued Palmisano. "This offering further solidifies our strong capital position as we move into the next millennium," concluded Palmisano. Founded in 1985, Summit Technology is a leading developer, manufacturer and marketer of ophthalmic laser systems and related products designed to correct common vision disorders such as nearsightedness, farsightedness and astigmatism. In 1995, Summit was the first excimer laser company to receive FDA approval for its excimer laser system for the correction of mild to moderate myopia in the U.S. Autonomous, a wholly owned subsidiary, is engaged in the design and development of next-generation excimer laser instruments for laser refractive surgery. The Company's LADARVision System combines laser radar eye tracking with narrow beam shaping technology. In addition, through its wholly owned subsidiary, Lens Express, Summit sells contact lenses and related products. Cautionary Statement under "Safe harbor" Provisions of the Private Securities Litigation Reform Act of 1995: Statements made in this news release contain information about the Company's future business prospects. These statements may be considered "forward looking". These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Among these risks and uncertainties are: competition from other manufacturers and vision correction technologies, delays in obtaining regulatory approvals, challenges to patents owned and licensed by the Company affecting per procedure revenues, adverse litigation results, difficulties in commercializing the LADARVision system and dependence on sole source suppliers. For additional information and risks associated with the Company's business prospects and future operating results, please refer to Summit's public filings with the Securities and Exchange Commission. --30--kms/bos* CONTACT: Summit Technology, Inc. Kate Sturgis Burnham (781) 672-0517 kate.burnham@sum-tech.com KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS MEDICINE Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of st