Google.
I agree that buying a competitor is probably not the best use of funds.
I did consider Valon Lasers as a potential target for a second, as I am pretty sure they are the OEM manufacturer of the Ellex Rapide. There are possibly options to expand their pattern scan technology to SLT/2RT etc. But if this was the case, why a US based acquistion company?
A diagnostic company (e.g. OCT) is a possiblity to expand their offerings outside of ultrasound - but the marketplace is already pretty crowded, competitive and with heavyweight players (Zeiss). Heidelberg Engineering would be a great fit (brand & engineering expertise) but I don't think this is likely given they are German and also probably too expensive for Ellex.
I guess it's a wait and see.... Merry Christmas :p
ellex acquisition company inc, page-7
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