Syneron Acquires Pharos Life Corporation
08 Diciembre 2010 - 7:55AM
Marketwired
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic
device company, announced today that it has acquired privately-held
Pharos Life Corporation, a leading manufacturer of home-use light
therapy for aesthetic procedures.
Pharos Life Corporation's products are marketed directly to
consumers through premium retailers under the Tända™ brand name and
include products for skincare and wellness solutions for both the
home-use and professional markets. Under terms of the agreement,
Syneron will acquire Pharos Life Corporation through the assumption
of approximately $2.5 million in net debt, plus additional
potential performance-based earn out payments of up to $13.25
million payable in 2013. Pharos will continue operating as a wholly
owned subsidiary of Syneron and the Tända™ business will be
integrated into Syneron's consumer home-use initiatives.
Dr. Shimon Eckhouse, Chairman of the Board of Directors and
co-founder of Syneron, commented, "The acquisition of Pharos
clearly demonstrates our commitment to the aesthetic home-use
market. We believe this market represents a major synergistic
growth opportunity for Syneron with both our existing and
in-development aesthetic technologies. With the addition of the
Tända product line, which is complementary to our home use
initiative with Procter and Gamble, we now have a broad range of
aesthetic home-use products in various stages of development and
commercialization."
The Tända product lines include Tända Prestige for home-use,
which are sold through exclusive distribution agreements with
premium retailers, and Tända Professional for skincare and wellness
professionals. These products are supplemented by specially
formulated pre-treatment topical gels and system accessories. Tända
products are user-friendly and deliver a rare combination of
clinically proven results, convenience and value. More information
on Tända products is available at www.tandaskincare.com.
Fabian Tenenbaum, Syneron Executive Vice President leading the
consumer home-use device effort, said, "The acquisition of Pharos
Life Corporation is an important milestone in the execution of
Syneron's growth strategy as we work to expand and diversify our
business. It gives Syneron an immediate and market leading presence
in the consumer aesthetic market, which is a key strategic area
that we believe has promising potential. In addition, the Tända
products are clinically validated and are complementary to our
existing technologies, demonstrating our commitment to providing
the highest quality, best-in-class products to our customers. Tända
also has strong brand equity in the premium segment of the market,
with established trade relationships that gives us access to the
prestige retailers in the U.S. and international markets."
Tända treatment categories include:
- Tända Acne Solution products offer an
effective and natural solution for the treatment and prevention of
mild to moderate inflammatory acne. The product works by using blue
LED light to kill the P.acnes bacteria, the bacteria that cause
acne. The product is cleared for OTC use by US FDA and CE mark
approval.
- Tända Anti-Aging Solution products give
patients plumper, firmer and more youthful-looking skin. The
product works by using red LED light to address the signs of aging
by boosting overall cellular energy, increasing the production of
collagen and elastin, and increasing microcirculation.
- Tända Professional Restore products
increase circulation to target areas to relieve aches, pains and
stiffness in muscles and joints. The product works by delivering
warm therapeutic light deep into targeted body tissue.
John Kennedy, President & Founder of Pharos Life
Corporation, said, "As the global leader in the aesthetic market,
Syneron is the ideal partner to help us realize the full potential
of the Tända product line and our LED light therapy technology.
Syneron will provide additional resources, complementary
technology, and innovative products that will enhance the value of
our existing business."
About Syneron Medical Ltd.
Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global
aesthetic device company with a comprehensive product portfolio and
a global distribution footprint. The Company's technology enables
physicians to provide advanced solutions for a broad range of
medical-aesthetic applications including body contouring, hair
removal, wrinkle reduction, rejuvenation of the skin's appearance
through the treatment of superficial benign vascular and pigmented
lesions, and the treatment of acne, leg veins and cellulite. The
Company sells its products under two distinct brands, Syneron and
Candela. Founded in 2000, the corporate, R&D, and manufacturing
headquarters for Syneron Medical Ltd. are located in Israel.
Syneron also has R&D and manufacturing operations in the US.
The Company markets and services and supports its products in 90
countries. It has offices in North America, France, Germany, Italy,
Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and
distributors worldwide. Additional information can be found at
www.syneron.com.
Contacts: Asaf Alperovitz Chief Financial Officer + 972
73 244 2283 Email: Email Contact Nick Laudico/Zack Kubow The Ruth
Group 646-536-7030/7020 Email: Email Contact / Email Contact
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