Syneron Medical Ltd. (ELOS) is set to acquire Primaeva Medical, Inc., an aesthetic technology firm based in Pleasanton, CA. The acquisition is expected to close before the end of 2009. Per the agreement, Syneron will acquire Primaeva for $7 million in cash and up to $23 million of additional payment based on the achievement of certain milestones.
The Primaeva acquisition helps Syneron gain access to a new technology for the treatment of wrinkles. The Primaeva product uses the bipolar fractional radiofrequency (RF) energy for the treatment of skin wrinkles and laxity in a selective and predictable manner. Its unique energy delivery mechanism resulted in skin tightening with minimal downtime.
An important consideration in skin treatment is the excessive heating of skin. The Primaeva product eliminates this as the treatment temperature is preselected and energy is delivered directly within the dermis, thereby eliminating the uncertainty associated with the location of energy delivery and tissue temperature control. Its Intelligent Feedback System (IFS) has sensors that provide real-time feedback of skin temperature and tissue impedance within the treatment zone.
Syneron Medical is on an acquisition spree. The company recently announced its intention to acquire Candela Corporation (CLZR), a medical laser technology provider.
Headquartered in Yokneam Illit, Israel, Syneron Medical was founded in 2000 and is engaged in the design, development, and marketing of aesthetic medical products based on its proprietary electro-optical synergy (ELOS) technology. Its medical aesthetic devices are powered by proprietary software, and use combined-energy technology of bi-polar radio frequency (RF) and optical energy (laser or non-coherent light).
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