Syneron Closes Acquisition of Ultrashape Ltd.
YOKNEAM, ISRAEL -- (MARKET WIRE) -- 03/02/2012 -- Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today that is has closed its previously announced acquisition of Ultrashape Ltd. ("Ultrashape"), a leading developer, manufacturer and marketer of innovative non-invasive technologies for fat cell destruction and body sculpting.
The integration of the Ultrashape business will begin immediately and its products, which are approved and commercially available in Europe, Canada, Latin America and Asia, will now be available through Syneron's worldwide network of direct and distributor sales channels.
Louis P. Scafuri, Chief Executive Officer of Syneron Medical, said, "The addition of Ultrashape's unique focused ultrasound technology will provide Syneron immediate entry into the large and attractive global market for fat cell destruction and body sculpting. Ultrashape's technology provides a differentiated, physician and patient friendly, non-invasive treatment for de-bulking and body sculpting of normal to overweight patients. We see tremendous opportunity to leverage our global channel to market capabilities to drive adoption of the Ultrashape system and, combined with our pipeline of new body contouring products, become the market leader in the category. We are very excited to welcome the Ultrashape team to Syneron and look forward to working with them to begin our U.S. clinical trial and continue broadening global exposure for this important technology."
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, 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.
Investor Contacts: Asaf Alperovitz Chief Financial Officer + 972 73 244 2283 Email: Email Contact Zack Kubow The Ruth Group 646-536-7020 Email: Email Contact