Ophthalmic Imaging to purchase Israeli MediVision

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Digital imaging systems provider Ophthalmic Imaging Systems (OIS) has entered a non-binding agreement to acquire MediVision Medical Imaging of Yokneam, Israel, a digital imaging provider and majority shareholder in OIS.

The Sacramento, Calif.-based OIS said that if the proposed agreement is accepted, MediVision’s outstanding shares will be converted into shares of OIS common stock at a yet to be determined ratio. Also, outstanding options and warrants to purchase MediVision shares will be converted into options or warrants to purchase shares of OIS common stock.

If the acquisition occurs, MediVision will operate as a wholly-owned subsidiary of OIS.

The definitive agreement requires approval from both companies’ shareholders before the acquisition can be finalized.