Cynosure, Inc. announced last week the completion of its acquisition of Palomar Medical Technologies, Inc. According to the press release, Palomar was purchased in a cash and stock transaction valued at approximately $287 million.
Cynosure’s Chairman and Chief Executive Officer Michael Davin stated:
“Combining with Palomar brings together two world class research and development organizations creating what we believe is one of the world’s premier aesthetic laser and light-based companies.”
According to the press release, Cynosure develops and markets laser and light-based treatments for minimally invasive and non-invasive aesthetic applications, such as aesthetic treatment systems to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, rejuvenate the skin, liquefy and remove unwanted fat through laser lipolysis, reduce cellulite, treat toe fungus and ablate sweat glands.
According to Palomar’s website, Palomar produces cosmetic lasers and intense pulsed light systems to improve the appearance of skin.