Cynosure Inc. (NSDQ:CYNO) announced the $24.5 million acquisition of the assets of Japan-based HOYA ConBio’s aesthetic laser business today.
The Westford, Mass.-based cosmetic laser device maker adds HOYA’s proprietary PhotoAcoustic energy technology to its product portfolio, which also includes the SmoothShapes cellulite reduction system.
The PhotoAcoustic technology uses high-speed energy waves to penetrate skin in nanoseconds, minimizing the amount of heat in each procedure.
HOYA ConBio’s aesthetic laser business has been profitable for two years, according to a company statement, and the company generated $23.9 million in revenue from aesthetic applications, 80 percent of which was derived from outside the U.S., in the fiscal year ended March 31.
"We believe that this acquisition will create significant new opportunities for us to grow our market share in popular aesthetic indications such as skin rejuvenation and tattoo removal, while allowing efficiencies that enable Cynosure to enhance its profitability," said Cynosure president & CEO Michael Davin.
Cynosure’s SmoothShapes system, which it acquired in a fire sale from now-defunct Elemé Medical Inc., won Taiwanese regulatory clearance last month, and the company’s Cellulaze workstation received approval in Australia.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- Shire and Advanced BioHealing make it official
Shire Plc. (NASDAQ:SHPGY), which announced that it would purchase Advanced BioHealing just before it’s $200 million IPO offering last month, closed the deal today. Shire picked up Advanced BioHealing for $750 million in cash in what analysts called a "monster home run" for backers of the regenerative tissue products maker.
Via the acquisition, Shire plans to launch a new regenerative medicine unit through Advanced BioHealing’s Dermagraft treatment for diabetic foot ulcers, which proved to be cost effective in economic models touted at the American Diabetes Assn.’s conference in San Diego this week.
- Luminex completes EraGen merger
Luminex Corp. (NSDQ:LMNX) successfully acquired all outstanding shares of Eragen Biosciences for $34 million in cash. The deal consisted of approximately $22.1 million to former stockholders, $6.3 million to pay off EraGen’s debts and $5.6 million in various escrow deposits. Austin, Texas-based Luminex expects the acquisition to add between $5 and $7 million to 2011 consolidated revenue, according to a company release.
- LabCorp-Orchid deal extended pending FTC review
Diagnostics technologies and lab services company Laboratory Corp. of America Holdings (NYSE:LH) pushed back its deadline for the acquisition of Orchid Cellmark (NASDAQ:ORCH) to July 15, the third extension for the deal in the last month. The companies announced their $85 million merger in April, but FTC requests for more information on the deal have caused delays.
- Acacia acquires heart-lung machine patents
An Acacia Research Corporation (NSDQ:ACTG) subsidiary acquired patents for heart-lung machine technology, the Newport Beach, Calif.-based company announced today. The details of the acquisition were not made public.