A prominent New York City ear, nose and throat surgeon — and, perhaps not coincidentally, the inventor of a laser treatment for bad breath — picked up a 7 percent stake inWayland-based Candela Corp., which makes cosmetic laser treatment equipment.
Yosef Krespi, chairman of the ENT department at St. Luke’s and Roosevelt Hospitals in New York, bought 1.6 million shares in Candela Feb. 27, according to a filing with the federal Securities and Exchange Commission.
Based on the closing price of Candela shares that day, that means Krespi spent about $560,000 to buy into the company.
Krespi may be interested in Candela due to his pioneering work on a laser procedure to treat chronic halitosis. The procedure, which uses lasers to kill bacteria that collect in the tonsil folds at the back of the throat, can be performed in a physician’s office in about 20 minutes, with only mild side effects, according to the New York Post.