YOKNEAM, Israel, June 4, 2015 /PRNewswire/ -- Syneron
Medical Ltd. (NASDAQ: ELOS), a global market leader in the
aesthetic medical device marketplace, and Viora Ltd. and Viora
Inc., a global manufacturer and distributor of medical aesthetic
devices ("Viora"), announced today that they have entered into an
agreement to settle Syneron's patent infringement law suit
against Viora in the United States
and a business litigation in Israel. As part of the settlement, Viora
acknowledged that its Reaction product infringes Syneron's U.S.
patent No. 6,662,054, and acknowledged the validity of the patent.
Viora further agreed that for the next 12 years, it will pay
Syneron royalties of 7.5% to 15%, depending on the number of
systems sold by Viora on all U.S. sales of products that apply
vacuum together with radio frequency energy for body contouring,
cellulite reduction, skin tightening and circumferential
reduction.
![Syneron Medical Ltd logo Syneron Medical Ltd logo](http://photos.prnewswire.com/prnvar/20120528/535447)
Amit Meridor, Chief Executive Officer of Syneron Medical, said,
"We are pleased to reach this settlement that supports the
validity of one of our key VelaShape patents and ends the
legal activity related to this matter. As a leading innovator in
the aesthetic medical device market, we have developed numerous
patented technologies and we intend to vigorously defend our
intellectual property."
Eliran Almog, Chief Executive
Officer of Viora Inc., said, "Viora is happy to achieve this
settlement with Syneron. The end of this dispute will enable us to
provide uninterrupted, access to the Reaction™ technology, in
addition to renewing our focus on our customers, ensuring continued
customer and patient satisfaction."
About Syneron Candela
Syneron Candela is a 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, tattoo removal,
improving 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 three distinct brands, Syneron, Candela and
CoolTouch, and has a wide portfolio of trusted, leading products
including UltraShape, VelaShape, GentleLase, VBeam Perfecta,
PicoWay, Profound and elos Plus.
Founded in 2000, the corporate, R&D, and manufacturing
headquarters for Syneron Candela are located in Israel. Syneron Candela also has R&D and
manufacturing operations in the U.S. The company markets,
services and supports its products in 86 countries. It has
offices in North America,
France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan,
and Hong Kong and distributors
worldwide.
For additional information, please visit
http://www.syneron-candela.com.
About Viora
Viora is a market leader in the
development of technologically advanced medical aesthetic systems
for physicians and aesthetic clinicians worldwide. Dedicated to the
research and development of safe and effective aesthetic solutions,
Viora provides the highest standard of professional grade
solutions. For more information on Viora, visit
www.vioramed.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This
news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that
involve risks and uncertainties. Such forward-looking statements
include the expectations, plans and prospects for the Company,
including product efficacy, market acceptance of new products, and
projected revenues, margins, earnings and market shares. The
statements made by the Company are based upon management's current
expectations and are subject to certain risks and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. These risks and
uncertainties include the risk factors and other cautionary
statements described in the Company's filings with the SEC,
including those described in the Company's most recent Annual
Report on Form 20-F, and in the filings that Syneron Medical makes
with the SEC, and other factors beyond the Company's control. If
one or more of these factors materialize, or if any underlying
assumptions prove incorrect, Syneron Medical Ltd.'s actual results,
performance or achievements may vary materially from those
expressed or implied by these forward-looking statements.
These forward-looking statements should not be relied upon as
representing Syneron Medical Ltd.'s views as of any date after the
date of this document. The Company does not intend to update these
statements and undertakes no duty to any person to provide any such
update under any circumstance.
Logo -
http://photos.prnewswire.com/prnh/20120528/535447
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/syneron-and-viora-announce-settlement-agreement-of-business-and-patent-litigations-300094293.html
SOURCE Syneron Medical Ltd.