updated 4/1/2011 8:16:07 AM ET 2011-04-01T12:16:07

BURLINGTON, Mass., April 1, 2011 (GLOBE NEWSWIRE) -- Palomar Medical Technologies, Inc. (Nasdaq:PMTI), a leading researcher and developer of lasers and light systems for aesthetic treatments, is pleased to announce the release of the revolutionary Palomar Icon™ Laser and Optimized Light System.

"The Palomar Icon ushers in a new era of aesthetic technologies," remarked Joseph P. Caruso, President and Chief Executive Officer. "Building on two decades of unparalleled investments in developing light-based systems for aesthetic providers, the Palomar Icon redefines the standard of light-based cosmetic and dermatologic care by introducing several new enhancements designed to improve clinical outcomes and treatment satisfaction."

The Palomar Icon empowers aesthetic practitioners to offer a comprehensive suite of the most popular treatments – including hair removal, wrinkle treatment, acne scar and surgical scar improvement, stretch mark treatment, fractional skin resurfacing, leg and facial vessel clearance, and photofacial skin rejuvenation (pigment and vessel clearance). Following the successful platform model of previous Palomar systems, the Palomar Icon is customizable for each practice's unique needs through the use of treatment-specific handpieces powered by a single base unit. "Practitioners can cost-effectively add additional treatment options as their practice demand grows," said Caruso.

"The Palomar Icon is truly a new generation of technology," said Gregory Altshuler, Ph. D., Senior Vice-President of Research. "We have completely redesigned this platform technology from the ground up. The Palomar Icon features increases in both power and cooling that can improve treatment outcomes and promote greater comfort. A larger touch screen and our new treatment tracking software help make the Palomar Icon easier to operate, as well."

The Palomar Icon will be unveiled today at the 2011 Annual Conference of the American Society for Laser Medicine and Surgery, at the Gaylord Texan Resort and Conference Center, Grapevine, Texas.

To learn more about the Palomar Icon Aesthetic System, please visit palomarmedical.com.

About Palomar Medical Technologies, Inc.: Palomar is a leading researcher and developer of laser- and light-based systems for aesthetic treatments.

Palomar pioneered the optical hair removal field, when, in 1997, it introduced the first high-powered laser hair removal system. Since then, many of the major advances in light-based hair removal have been based on Palomar technology.

As a pioneer of fractional technology, Palomar is an owner of fundamental intellectual property in this area. In December 2009, Palomar received the first United States Food and Drug Administration (FDA) clearance for the treatment of stretch marks using a fractional non-ablative laser. In September 2010, Palomar received the first FDA clearance for a fractional ablative and fractional non-ablative combination treatment.

In December 2006, Palomar became the first company to receive a 510(k) over-the-counter (OTC) clearance from the FDA for a new, patented, home-use, light-based hair removal device. In June 2009, Palomar became the first company to receive a 510(k) OTC clearance from the FDA for a new, patented, home-use, laser device for the treatment of periorbital wrinkles. OTC clearance allows these products to be marketed and sold directly to consumers without a prescription. Palomar introduced the PaloVia™ Skin Renewing Laser™ in December 2010.

There are now millions of laser- and light-based aesthetic procedures performed around the world every year in physician offices, clinics, spas, salons, and homes. Palomar is testing many new and exciting applications to further advance the aesthetic market and other surgical applications.

For more information on Palomar and its products, visit Palomar's website at palomarmedical.com.

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements, including, but not limited to, statements relating to new markets, future royalty amounts due from third parties, development and introduction of new products, and financial and operating projections. These forward-looking statements are neither promises nor guarantees, but involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements. These risk factors include, but are not limited to, results of future operations, technological difficulties in developing or introducing new products, the results of future research, lack of product demand and market acceptance for current and future products, the effect of economic conditions, challenges in managing joint ventures and research with third parties and government contracts, the impact of competitive products and pricing, governmental regulations with respect to medical devices, including whether FDA clearance will be obtained for future products and additional applications, the results of litigation, difficulties in collecting royalties, potential infringement of third-party intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, and/or other factors, which are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2010 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

CONTACT: Investor Contact:
         Kerryann McAnistan
         Investor Relations Assistant
         Palomar Medical Technologies, Inc.
         (781) 993-2411
         ir@palomarmedical.com
         
         Press Contact:
         Branden Morris
         Integrated Marketing Manager
         Palomar Medical Technologies, Inc.
         (781) 993-2452
         bmorris@palomarmedical.com

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