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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) June 4, 1998
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SUMMIT TECHNOLOGY, INC.
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(Exact Name of Registrant as Specified in Charter)
MASSACHUSETTS 0-16937 04-2897945
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
21 HICKORY DRIVE
WALTHAM, MASSACHUSETTS 02154
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (781) 890-1234
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
VISX SETTLEMENT; DISSOLUTION OF PILLAR POINT PARTNERS
On June 4, 1998, the Company and VISX, Inc. settled all outstanding
disputes and litigation between them, including the equipment royalty
litigation in Federal Court in Massachusetts, and the LASIK royalty and
Partnership dissolution litigation in Santa Clara County, California.
Under the settlement, VISX and Summit have dissolved Pillar Point
Partners and have granted to each other worldwide, royalty-free
cross-licenses to all of their respective U.S. and foreign patents in
the field of laser ablation of corneal tissue, including all patents
presently included or includable in Pillar Point. These cross-licenses
permit each company, INTER ALIA, to license each other's patents to
users of their equipment. The Company and VISX will retain all rights
to license their own patents to other manufacturers. As part of the
settlement, VISX made a single, lump sum cash payment to the Company in
the amount of $35 million.
Exhibit Number Title
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2.1 Settlement and Dissolution Agreement Dated
June 4, 1998 ("Settlement Agreement")
between Summit Technology, Inc., ET AL., and
VISX, Inc., ET AL., with certain
confidential portions redacted. The
Registrant will furnish supplementally a
copy of any omitted exhibit to the
Settlement Agreement to the Securities and
Exchange Commission upon request.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has caused this report to be duly signed on its behalf by the
undersigned hereunto duly authorized.
SUMMIT TECHNOLOGY, INC.
By: /s/ Robert J. Palmisano
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Robert J. Palmisano
Chief Executive Officer
Date: June 19, 1998
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