Co-founder Shimon Eckhouse, who served as Syneron CEO from its founding in 1992 to 1999, was tapped to replace the outgoing Scafuri. Eckhouse will also serve as chairman, according to a press release.
Palomar and Syneron Announce Settlement of Patent Infringement Lawsuits
Comprehensive Settlement Covers Palomar’s Lawsuits Against Candela and Syneron
MASSDEVICE ON CALL — Democrats are showing some gratitude toward Republican presidential hopefuls in a kill-them-with-kindness strategy some are calling a "death hug."
White House hopefuls Mitt Romney, the former governor of Massachusetts, and Indiana’s current chief, Gov. Mitch Daniels, both felt the squeeze this week as liberals invoked their names in praise of progress toward health care reform.
Syneron Medical Ltd. (NSDQ:ELOS) posted fourth-quarter sales of $14.4 million for the three months ended Dec. 31, 2009, up 1.6 percent compared with $14.2 million during the same period in 2008. Net losses narrowed 72.6 percent to $4.3 million, compared with $15.9 million during Q4 2008:
Syneron Reports Fourth Quarter and Full Year 2009 Results
Closed Acquisition of Candela Corporation in January 2010
Candela Corp. won clearance from China’s State Food & Drug Administration to bring two of its laser skin treatment devices to market in the People’s Republic.
Wayland, Mass.-based Candela, now a subsidiary of Syneron (NSDQ:ELOS), said the SFDA approved its Alex TriVantage and the GentleMax devices for sale in China and Hong Kong. Syneron CEO Louis Scafuri said the Chinese approvals open up the world’s largest market for cosmetic procedures.
Syneron Medical Ltd. (NSDQ:ELOS) closed a deal to snap up one of its main rivals, Candela Corp. (NSDQ:CLZR), for $65 million, leaving its shareholders owning 80 percent of the company and former Candela owners with a 20 percent stake.
The consummation of the deal, first announced Sept. 9, 2009, means Candela shareholders will receive 0.2911 Syneron shares for each share of Candela, or $2.84 per share, according to regulatory filings.
Candela shares were trading at $3.13 as of about 12:30 Jan. 5. Syneron shares were trading at $10.84 around that time.