Syneron acquires Ultrashape for $12m

Syneron makes laser aesthetic devices and Ultrashape has developed an ultrasound device for removing fatty tissue.

Syneron Medical Ltd. (Nasdaq: ELOS) has acquired UltraShape Medical Ltd. (TASE: USLP) for $12 million. Syneron makes laser aesthetic devices; Ultrashape has developed an ultrasound body contouring device for removing fatty tissue.

Ultrashape's products are approved and commercially available in Europe, Canada, Latin America, and Asia.

Syneron CEO Louis Scafuri said, "The acquisition provides Syneron immediate entry into this large and attractive global market for fat disruptive body contouring and provides the opportunity to leverage our worldwide sales infrastructure and VelaShape installed-base to drive growth in the Ultrashape business. The combination of Ultrashape and Syneron's body contouring product pipeline will accelerate our leadership in this key growth market."

Ultrashape chairman Alon Maor said, "Syneron has developed into a clear market leader over the past several years, and we believe its global sales and distribution reach will help millions of patients worldwide benefit from the unique Ultrashape procedure."

Syneron founder and chairman Dr. Shimon Eckhouse said, "The high intensity focused ultrasound technology that was developed by Ultrashape is very unique due to its ability to destroy the fat cell membranes without damaging adjacent tissue. Syneron's leadership position in the body shaping market, which is based on RF induced thermal injury, when complemented by this unique fat selective technology, gives physicians a comprehensive body sculpting solution that enables non-invasive fat destruction and injury based connective tissue repair."

Syneron's share price rose 1% in early trading on Nasdaq to $11.04, giving a market cap of $389 million. The Tel Aviv Stock Exchange (TASE) is closed today for a strike.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
MORE FROM GLOBES
Joseph Papa Perrigo up for sale

The pharmaceutical firm is seeking a merger at a premium on its $20 billion market cap.

Twitter Facebook Linkedin RSS Newsletters גלובס