SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________________________________

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): December 17, 2008

Palomar Medical Technologies, Inc.
(Exact Name of Registrant as Specified in Charter)

82 Cambridge Street, Burlington, Massachusetts 01803
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (781) 993-2300

(Former Name or Former Address, if Changed Since Last Report)

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT and ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

      On December 17, 2008, Palomar Medical Technologies, Inc., a Delaware corporation (the “Company”), and RBS Citizens, National Association, a national banking association with an office located at 28 State Street, Boston, Massachusetts 02109 ("Citizens"), entered into a Loan Agreement and related agreements, including a Mortgage and Security Agreement, Collateral Assignment of Leases and Rents, Indemnity Agreement Regarding Hazardous Materials, Unlimited Guaranty, and Revolving Note. The Loan Agreement provides a 5 year revolving line of credit of up to $30,000,000. To secure its obligations under such revolving line of credit, the Company has granted a mortgage on property located at 15 Network Drive, Burlington, MA 01803 and a security interest in and lien on other assets of the Company in favor of Citizens.

      This summary description of the event is qualified in its entirety by reference to the Loan Agreement and related agreements filed as Exhibits 10.1-10.6 to the Form 8-K filed January 8, 2009.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

      (d)    Exhibits

SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

PALOMAR MEDICAL TECHNOLOGIES, INC.

Date: January 8, 2009

EXHIBIT INDEX