IRVINE, Calif., Oct. 17, 2016 /PRNewswire/ -- Syneron Medical
Ltd. (NASDAQ:ELOS), a leading global aesthetic device company,
today announced that it is strengthening its management team with
the addition of leading aesthetic industry veterans and announced
preliminary third quarter 2016 revenue results.
Senior Management Team Additions
Syneron
announced the strengthening of its senior management team with the
following positions:
Philippe A. Schaison is joining as CEO of Syneron Candela
North America and Global Executive Vice President Strategy and
Business Development. In these positions, Dr. Schaison will
lead the Company's North American Body Shaping and Aesthetic
divisions. Dr. Schaison is joining Syneron from Allergan plc, where
he served as President of the $2
billion U.S. Aesthetic and Dermatology business since 2013,
with responsibility for Allergan's top aesthetic brands, including
Botox, Juvaderm, Skin Medica, and other leading brands. Prior to
Allergan, Dr. Schaison served in leadership roles of several
aesthetic businesses, including Clarins, Johnson & Johnson
where he served as VP of Global Skin Care, and L'Oreal. Dr.
Schaison received a Master of Business Administration in marketing
from the Hautes Etudes Commerciales (H.E.C.) in Paris, and a Doctorate in Pharmacy from the
University Of Paris V.
Paul Little is joining as
Global Chief Operating Officer. In this position, he will have
worldwide responsibility for the Company's operations. Mr. Little
brings over 30 years of experience in finance, business strategy
and operations roles, spanning pharmaceutical, medical device,
consumer packaged goods and public accounting industries. Most
recently, he served as the Vice President, Finance and Head of
Commercial operations of Allergan Medical Aesthetics. He began his
career in public accounting at KPMG. Mr. Little earned a BA in
Business Economics from the University of
California, Santa Barbara.
Yariv Matzliach is joining as
Executive Vice President, Distribution Channels. In this
position, he will be responsible for building stronger
relationships with the Company's international new and existing
distribution partners, including implementing the new consumables
business model to drive recurring revenue. Dr. Matzliach will be
based out of the Company's global headquarters. Dr. Matzliach is a
co-founder of Alma Lasers, a global developer, manufacturer and
provider of cosmetic laser solutions and medical lasers where he
served as President from 2004 to 2011. Prior to Alma Lasers, Dr.
Matzliach served in sales and marketing positions at several
medical companies. Dr. Matzliach received a Doctor of Dental
Surgery at UNAM in Mexico City and
completed the Executive Business Administration course at Elscint
in Paris.
Amit Meridor, Chief Executive Officer of Syneron Medical, said,
"We are very excited about the three top executives that are
joining Syneron: Philippe Schaison and Paul
Little, leaders of Allergan's aesthetic business in
North America, and Yariv Matzliach, one of the founders and former
President of Alma Lasers. They bring broad industry experience and
relationships that will help us to continue driving growth of our
aesthetic business and improve our operating leverage and
profitability."
See below for information on inducement award grants being
provided to these new executives.
Preliminary Third Quarter 2016 Revenue
Total
revenue for the third quarter 2016 is expected to be in the range
of $70 to $72 million, up
approximately 14% to 17% year-over-year when excluding $0.5 million of sales associated with the dental
laser subsidiary in the third quarter 2015 (this subsidiary was
sold in May 2016). Third quarter 2016
revenue was driven by approximately 60% growth from the
Company's Emerging Products. Total Body Shaping revenue in the
third quarter 2016 was approximately $14
million, up more than 40% year-over-year, mainly from
UltraShape sales, driven by the launch of UltraShape Power.
North America product revenue
was up approximately 20% year-over-year, Asia-Pacific product revenue was up
approximately 25% year-over-year, and EMEA region product revenue
was up approximately 9% year-over-year.
Mr. Meridor added, "Our preliminary third quarter revenue
results were driven by strong growth from the Company's Emerging
Products, which continued to grow and reached around one-third of
total revenue in the quarter. We achieved good results in
North America following a
challenging second quarter and are pleased that revenue grew in all
geographies during the third quarter."
Third Quarter 2016 Financial Results Press Release and
Conference Call
Syneron will release third quarter 2016
financial results before the market opens on Wednesday,
November 9, 2016. The earnings release will be available on
Syneron's website at www.investors.syneron.com. Syneron
management will host a conference call and a live webcast
at 8:30 a.m. (ET) on the same day. A question &
answer session will follow management's discussion of events in the
third quarter 2016.
Investors and analysts may participate in the conference call
using the following dial-in numbers:
US (toll
free):
|
(877)
280-3488
|
International:
|
(646)
254-3376
|
The conference passcode for both is 8307359. Investors and other
interested parties can also access a live webcast of the conference
call through the Investor Relations page on Syneron's website at
www.investors.syneron.com. Please log-in at least 10 minutes prior
to the conference call in order to download the applicable audio
software. Following the conclusion of the call, a replay of the
webcast will be available within 24 hours on the Company's
website.
Inducement Award Grants
In connection with the
hiring of these three executives, the Company has approved the
grant of (i) 300,000 options to purchase ordinary shares of the
Company (Options), and 100,000 restricted stock units (RSUs) to Dr.
Schaison, (ii) 200,000 Options to Mr. Little, and (iii) 200,000
Options to Dr. Matzliach. The Options and RSUs will vest quarterly
over a period of four years, with 25% of the shares subject to the
Options and RSUs vesting on the one-year anniversary following the
first employment anniversary date. The exercise price of the
Options will be set pursuant the Company's established practice
which is the closing price of Syneron's ordinary shares on the date
following the announcement of Syneron's next quarterly financial
results (third quarter 2016 financial results to be announced on
November 9, 2016). The grants
to Dr. Schaison, Mr. Little and Dr. Matzliach, which will be in the
form of employment inducement awards, were approved by the
Compensation Committee of the Syneron Board of Directors as an
inducement material to Dr. Schaison, Mr. Little and Dr. Matzliach
entering into employment with Syneron in accordance with NASDAQ
Listing Rule 5635(c)(4).
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, women's intimate wellness treatments, 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 has a wide portfolio of trusted, leading
products including UltraShape, VelaShape, GentleLase, VBeam
Perfecta, PicoWay, CO2RE, CO2RE Intima,
Profound and elōs Plus.
Founded in 2000, 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.
SAFE HARBOR FOR FORWARD-LOOKING
STATEMENTS
Any statements contained in this document
regarding future expectations, beliefs, goals, plans or prospects
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Further,
any statements that are not statements of historical fact
(including statements containing "believes," "anticipates,"
"plans," "expects," "may," "will," "would," "intends," "estimates"
and similar expressions) should also be considered to be
forward-looking statements.
Forward-looking statements in this press release include
preliminary third quarter 2016 results, the proposed equity awards
to the new management members and Mr. Meridor's statement that the
new management members will help the Company to continue to drive
growth of its aesthetic business and improve its operating leverage
and profitability. There are a number of important factors that
could cause actual results or events to differ materially from
those indicated by such forward-looking statements, including the
smooth integration of the new management team into the Company, the
continued success of the Total Body Shaping Business, the continued
improvements of the North American market, as well as those risks
set forth in Syneron Medical Ltd.'s most recent Annual Report on
Form 20-F, and the other factors described in the filings that
Syneron Medical Ltd. makes with the SEC from time to time. 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 any future
results, performance or achievements expressed or implied by these
forward-looking statements.
In addition, the statements in this document reflect the
expectations and beliefs of Syneron Medical Ltd. as of the date of
this document. While Syneron Medical Ltd. may elect to update
these forward-looking statements publicly in the future, it
specifically disclaims any obligation to do so. 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.
Syneron, the Syneron logo, UltraShape, eMatrix and elos are
trademarks of Syneron Medical Ltd. and may be registered in certain
jurisdictions. The elos (Electro-Optical Synergy) technology is a
proprietary technology of Syneron Medical Ltd. All other names are
the property of their respective owners.
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SOURCE Syneron Medical Ltd.