The Gores Group will invest through its Small Capitalization Partners investment fund. Closing under the agreement is subject to regulatory approvals and customary conditions, and is expected to occur in the first quarter of 2014.

Fotona CEO Dr Matjaz Lukac noted the company is convinced the acquisition ideally positions it for success.

"The foundation of the partnership will benefit our employees and customers, and contribute to the long-term ability of the business to both technically innovate and expand," said Dr Lukac added.

T4Med CEO Jeffrey W Jones noted under the leadership of Dr Lukac, Fotona produces a premier laser technology for aesthetic, medical and dental applications.

"We believe the combination of our businesses, with financial support from The Gores Group, is an exciting opportunity. We expect the customers and dealers around the world to greatly benefit from this event," Jones added.