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                        AGREEMENT FOR PURCHASE OF STOCK

     THIS  AGREEMENT FOR PURCHASE OF STOCK  ("Agreement"),  dated as of July 12,
1996, by and among Palomar Medical  Technologies,  Inc., a Delaware  corporation
("Palomar"),  and Eleanor  Roberts  Weissman,  an individual  ("Weissman"),  and
Wallace Roberts, an individual ("Roberts");

                          W I T N E S S E T H    T H A T:

     WHEREAS,  Weissman desires to sell, and Palomar desires to purchase, all of
the 80 shares of the common stock, $__ par value per share ("Common Stock"),  of
Dermascan,  Inc.,  a  Florida  corporation  ("Dermascan"),   owned  by  Weissman
("Dermascan Stock"); and

     NOW,  THEREFORE,  in consideration of the mutual promises herein contained,
and on the terms and subject to the  conditions  herein set forth,  Weissman and
Palomar agree as follows:

                                       I.

                         Agreement of Purchase and Sale

     Subject to the other terms and conditions  hereof,  on the Closing Date (as
hereinafter defined),  Weissman agrees to sell, assign,  transfer and deliver to
Palomar, and Palomar agrees to purchase and accept the Dermascan Stock.

                                      II.

                              Closing Transactions

     The consummation of the transaction  contemplated  hereby ("Closing") shall
occur in the offices of Foley, Hoag & Eliot LLP, One Post Office Square, Boston,
Massachusetts  02109,  on July __,  1996,  or such  other  time and place as the
parties hereto shall mutually 

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agree ("Closing Date").

     At the  Closing,  Weissman  shall  deliver to Palomar (i) all  certificates
representing  the Dermascan  Stock duly endorsed for transfer or  accompanied by
duly executed stock powers.

     At the Closing,  Palomar shall deliver to Weissman (i) a stock  certificate
representing  35,000 shares (the  "Shares") of the common stock,  $.01 par value
per share ("Common Stock"), of Palomar. In addition, Palomar agrees that is will
include  the  Shares  in the  next  registration  statement  on  Form  S-3  (the
"Registration Statement") filed by Palomar providing for the resale of shares by
stockholders  of  Palomar.  In the event that the per share  price of the common
stock of Palomar shall be less than $14.00 on the day on which the  Registration
Statement shall be declared  effective by the SEC, Palomar shall pay to Weissman
and amount equal to the  difference  between $14.00 and the closing bid price on
the date the Registration Statement is declared effective.

                                      III.

                                Representations

     Weissman represents that (1) she owns the Dermascan Stock free and clear of
all liens,  encumbrances,  preemptive  rights or any other  restrictions  of any
kind,  (2) the Dermascan  Stock  constitutes  80% of the issued and  outstanding
capital stock of Dermascan,  and (3) Dermascan has no  liabilities  in excess of
$100,000.

                                      IV.

                                   Put Right

     At any time after three (3) years after the date hereof  Roberts shall have
the right to 

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require  Palomar to purchase  all,  but not part,  of the shares of
Dermascan,  Inc. common stock owed by him for a cash purchase price of $130,000;
provided that he shall  represent that he owns all such shares free and clear of
all liens, encumbrances, preemptive rights or any other restriction of any kind.

                                       V.

                             Right of First Refusal

     In the event that Palomar shall determine to dispose of the assets or stock
of Dermascan in a sale of assets,  merger,  consolidation,  or sale of shares or
shall  determine to otherwise sell or dispose of the business of Dermascan in an
arms length  transaction with a bona fide third party,  then Palomar shall offer
to sell the business of Dermascan  to Roberts and shall  negotiate  with Roberts
for that  purpose  for a period of thirty  days.  If at the end of such  period,
Palomar and Roberts shall not have reached agreement  concerning the sale of the
business  of  Dermascan  to  Roberts,  Palomar  shall be free to  dispose of the
business to a third party;  provided that once Palomar obtains a bona fide offer
for the sale of such  business,  Palomar  shall  offer to sell the  business  to
Roberts on the same terms and conditions and for the same  consideration  as set
forth in the bona fide  offer.  Roberts  shall then have a period of ten days to
accept or reject such offer.  If Roberts  accepts  the offer,  then  Palomar and
Roberts shall cooperate to close the sale promptly upon the terms and conditions
set forth in the offer. If Roberts rejects the offer, then Palomar shall be free
to sell to the party originally make the offer.

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                                      VI.

                                  Miscellaneous

     1.   Counterparts.   This   Agreement  may  be  executed  in  two  or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same agreement.

     2.  Governing  Law.  This  Agreement  shall be  construed  and  enforced in
accordance with the laws of the Commonwealth of Massachusetts.

     3. Entirety. This Agreement constitutes the entire agreement of the parties
with  respect to the subject  matter  hereof and  supersedes  all other prior or
contemporaneous agreements or understandings, written or oral.

     IN WITNESS WHEREOF,  the undersigned parties hereto have duly executed this
Agreement on the date first written above.

                                              PALOMAR MEDICAL TECHNOLOGIES, INC.



                                              By:           /s/  
                                                  ------------------------------
                                                  Steve Georgiev, Chairman



                                                            /s/
                                                  ------------------------------
                                                  Eleanor Roberts Weissman


                                                            /s/
                                                  ------------------------------
                                                  Wallace Roberts