Syneron Medical Ltd. (MKT:ELOS) snapped up Cambridge, Ontario-based Pharos Life Corp. with the assumption of about $2.5 million in debt.
The acquisition deal also includes the prospect of up to $13.25 million in performance-based payments due in 2013.
Pharos markets anti-acne and anti-aging light therapy devices for home use through its Tända brand, which will be integrated into Yokneam, Isreal-based Syneron’s consumer home-use initiatives, the company said.
"With the addition of the Tända product line, which is complementary to our home use initiative with Procter and Gamble, we now have a broad range of aesthetic home-use products in various stages of development and commercialization,” said Syneron chairman Dr. Shimon Eckhouse in prepared remarks.
In January, Syneron picked up Wayland, Mass. based cosmetic laser company Candela Corp.