Premier Laser to Distribute Wares in S. Korea : Exports: Irvine maker of medical devices hopes for sales of $2.25 million in next 3 years as part of plan to expand overseas.

IRVINE —  Premier Laser Systems Inc. has signed its first overseas distribution contract since becoming a public company in November.

The Irvine manufacturer of medical lasers said that it has signed an exclusive agreement to distribute two of its devices in South Korea. The contract, signed with A K Tech Co. Ltd. in Seoul is expected to bring in sales of $2.25 million over the next three years.

Dan Caruso, a spokesman for Premier Laser, said its move into South Korea is part of its strategy to establish itself in international markets.

David Anast, editor of Biomedical Market Newsletter in Costa Mesa, said many U.S. medical-device makers are trying to make overseas sales, but that the competition is growing.

Medical manufacturers increasingly are turning to international customers to continue their growth as sales in the United States have slipped, Anast explained. Therefore, any company serious about becoming a global distributor of medical devices must be committed for the long haul.

“This is the true next wave of business opportunity in medical manufacturing of high technology equipment,” said Anast. “But laser machinery is not the type of quick sale that a disposable product, such as scalpels, would be.”

Premier Laser said it also intends to submit several more devices for Food and Drug Administration approval, which it said should help with overseas sales. Caruso said foreign buyers prefer FDA-approved devices because it means they have been tested for effectiveness and safety.

To that end, the company has secured a $500,000 Small Business Innovation Research grant from the federal government to continue clinical trials on an ophthalmic laser that could be used in cataract surgery.

The company expects to have those trials completed and the device submitted for FDA approval by the end of the 15-month period of the grant. Premier Laser already has one laser that has federal approval for one of the several procedures involved in cataract surgery.

Shares of Premier Laser’s stock lost 50 cents a share in Nasdaq trading on Thursday to close at $3.50.