Syneron Medical to acquire Primaeva Medical

Fri. October 16, 2009; Posted: 08:48 AM

Oct 16, 2009 (Datamonitor via COMTEX) -- ELOS | Quote | Chart | News | PowerRating -- Syneron Medical, a manufacturer and distributor of medical aesthetic devices, has signed a definitive agreement to acquire Primaeva Medical, an aesthetic technology firm.

Syneron will acquire Primaeva for $7 million in cash, with potential additional consideration of up to $23 million in cash contingent on the achievement of commercial milestones. As part of the agreement, Primaeva founder and CEO Bankim Mehta will join the Syneron management team.

Primaeva has developed a minimally invasive radio frequency aesthetic device for the treatment of skin wrinkles and laxity. The proposed acquisition is subject to customary conditions and is expected to close before the end of calendar year 2009. Syneron expects to introduce the non-surgical skin tightening Primaeva technology in 2010.

Syneron recently announced its agreement to acquire Candela Corporation. With the acquisition of Primaeva, Syneron continues to develop and broaden its portfolio of superior technologies and applications for the aesthetic physician.

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For full details on Syneron Medical Ltd (ELOS) click here. Syneron Medical Ltd (ELOS) has Short Term PowerRatings of 4. Details on Syneron Medical Ltd (ELOS) Short Term PowerRatings is available at This Link.

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