LMG to Acquire Controlling Interest in Equitech

NORCROSS, Ga., July 23 -- Light Management Group Inc. (LMG), developer of new applications in optical and light technologies, announced that it has signed a definitive agreement to acquire controlling interest in Equitech Int'l Corp. (Equitech) and its subsidiaries. Equitech Int'l is headquartered in Aiken, South Carolina.
Equitech is a developer of a fiber optic product line that includes the Equispec Film Thickness Analyzer, Color Analyzer and Chemical Process Analyzer; the Millennium 3 Spectrometer; and a complete line of fiber optic probes. The Equitech Int'l product line will serve strategically to complement the proprietary acousto-optic product line developed by Light Management Group.
Equitech's subsidiaries include Healthonics, a leading developer and supplier of state-of-the-art patented bioelectronic medical devices; and Tenna Ltd., a firm which focuses on the final commercialization and distribution of consumer electronics products to market. Healthonics President James Naftel has announced plans to market its recently cleared FDA model for relief of chronic pain for humans as early as October of this year. Tenna Ltd. is headed by Ed Toth and is a licensor of patented consumer electronics products from Equitech.