“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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