Combination of Syneron and Candela Creates one of the Most Comprehensive Aesthetic Device Product Po
26 Apr 2011
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The combination of Syneron and Candela brings together two well-respected industry leaders in aesthetic medical devices," said Louis P. Scafuri, Chief Executive Officer of Syneron. "
The product portfolio and commercial infrastructure of Syneron and Candela are highly complementary. The combined company will be extremely well positioned to benefit from an improving macroeconomic climate. We are going to take our time to build the right customer-focused organization for long-term growth and market leadership."
Scafuri continued, "
Candela has been a pioneer in our industry for nearly 40 years. We highly respect the achievements of Candela's leadership team and look forward to welcoming Candela's world-class sales force and product development organizations to Syneron where they will play a crucial role in our future success."
In December 2010 Syneron and Candela announced the closing of their merging process, and now in April 2011 Syneron’s shares are “outperforming”. Cosmetic laser device maker Syneron Medical Ltd. (Nasdaq: ELOS) rose to a six-month high in April, as it reported strong financial results. The company reported fourth quarter revenue of $53.5 million, 14.7% above the $46.6 million in the corresponding quarter. Analysts had expected about $51.73 million.
Syneron CEO Louis Scafuri said , "
The strength of our fourth quarter results clearly demonstrates the benefits of the Syneron and Candela merger. The combined businesses have an unmatched product portfolio and global sales network, which are supported by strong clinical data and customer relationships. We have successfully executed on the integration plan and leveraged these factors to drive continued revenue growth while also focusing on driving operational efficiencies and investing in new growth opportunities."
About Syneron Medical Ltd.
Syneron Medical Ltd. (NASDAQ: ELOS) manufactures and distributes medical aesthetic devices that are powered by the proprietary, patented elos combined-energy technology of Bi-Polar Radio Frequency and Light. The Company's innovative elos technology provides the foundation for highly effective, safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications including hair removal, wrinkle reduction, rejuvenating the skin's appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite. Founded in 2000, the corporate, R&D, and manufacturing headquarters for Syneron Medical Ltd. are located in Israel. Syneron has offices and distributors throughout the world, including North American headquarters in Irvine, CA, and Asia-Pacific headquarters in Hong Kong, which provide sales, service and support.
About Candela Corporation
Candela Corporation manufactures, and distributes innovative clinical solutions that enable physicians, surgeons, and personal care practitioners to treat selected cosmetic and medical conditions using lasers, aesthetic laser systems, and other advanced technologies. Founded near Boston in 1970, the company markets and services its products in 86 countries from offices and distributors in the United States, Europe, Japan, China and other Asian locations. Candela established the aesthetic laser market 20 years ago, and currently has an installed base of over 14,000 systems worldwide.
Sources:
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Syneron's Website
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American Banking News
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