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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001222832-08-000001.txt : 20080304
<SEC-HEADER>0001222832-08-000001.hdr.sgml : 20080304
<ACCEPTANCE-DATETIME>20080304171344
ACCESSION NUMBER:		0001222832-08-000001
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080229
FILED AS OF DATE:		20080304
DATE AS OF CHANGE:		20080304

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARTIN JAMES G
		CENTRAL INDEX KEY:			0001222832

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11177
		FILM NUMBER:		08664797

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1017
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28201-1017

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PALOMAR MEDICAL TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000881695
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				043128178
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		82 CAMBRIDGE STREET
		STREET 2:		SUITE 1
		CITY:			BURLINGTON
		STATE:			MA
		ZIP:			01803
		BUSINESS PHONE:		7819932300

	MAIL ADDRESS:	
		STREET 1:		82 CAMBRIDGE STREET
		STREET 2:		SUITE 1
		CITY:			BURLINGTON
		STATE:			MA
		ZIP:			01803
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-02-29</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000881695</issuerCik>
        <issuerName>PALOMAR MEDICAL TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>PMTI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001222832</rptOwnerCik>
            <rptOwnerName>MARTIN JAMES G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>82 CAMBRIDGE STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BURLINGTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01803</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Qualified Stock Option (right to buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.31</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-02-29</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2018-02-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Qualified Stock Option (right to buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16.53</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">2004 Incentive Stock Plan</footnote>
        <footnote id="F2">The stock option is fully exercisable on the grant date.</footnote>
        <footnote id="F3">Options did not vest and therefore were cancelled due to The Gillette Company terminating the Gillette Agreement prior to making the &quot;Launch Decision&quot;, as that term is defined in the Development and License Agreement between Palomar and The Gillette Company effective as of February 14, 2003, including any amendments.</footnote>
        <footnote id="F4">The stock option becomes exercisable on the date a &quot;Launch Decision&quot; is made, as that term is defined in the Development and License Agreement between Palomar and The Gillette Company effective as of February 14, 2003, including any amendments.</footnote>
        <footnote id="F5">The stock option shall expire if the Gillette Agreement is terminated prior to a Launch Decision being made but in any event, no later than 5/11/14.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: Paul S. Weiner  For: James G. Martin</signatureName>
        <signatureDate>2008-03-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----