![]() ![]() “We are looking forward to partnering with the Syneron Candela team to continue its strong growth trajectory, and to seeing the even greater benefits it can deliver for customers and patients,” he said. Steven Dyson, a partner at Apax and co-head of the fund’s healthcare division, said: “We have identified the medical aesthetics market as a highly attractive investment area given its long-term growth prospects.”ĭyson reckons that Syneron Candela is well positioned to capture the opportunity, mentioning the firm’s “exceptional” R&D capabilities and cutting-edge technology. ![]() I also believe that this transaction represents a positive outcome for our shareholders.”ĭespite that backing from Eckhouse, the Apax agreement includes a so-called “go-shop” period through May 9, during which Syneron Candela can actively solicit, evaluate and potentially enter into alternative proposals from third parties. He added: “We are confident that Apax will add significant value and expertise as Syneron Candela executes on its growth strategy while delivering innovative technologies to our customers and patients. ![]() “These exceptional assets are a result of the many years of hard work of our skillful and dedicated employees all over the world.” “This acquisition is a strong recognition of Syneron Candela's leadership in the aesthetic medical device market, its leading world-class technology and unique global footprint,” Eckhouse said. While the offer remains subject to approval by Syneron Candela shareholders, the firm’s board of directors has already approved the transaction unanimously – with chairman and co-founder Shimon Eckhouse, who still owns 7.4% of the company, agreeing to vote in favor of the deal. The Apax deal represents a 15 per cent premium on the firm’s average closing stock price over the first quarter of 2017, and comes shortly after Israel-based Syneron Candela said it broke even on full-year revenues of $298.1 million in 2016. It also offers non-optical technologies including ultrasound equipment for claimed fat-reduction treatments. The $46 billion fund has agreed a transaction price of $11 per share for Syneron Candela, whose products include multi-wavelength picosecond laser systems for removing tattoos and “pigmented lesions”, and alexandrite lasers for hair removal. Syneron Candela, the Nasdaq-listed vendor of laser-based medical and aesthetic devices, is set to be sold to private equity giant Apax Partners, in a cash deal valued at close to $400 million. ![]()
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