DS Healthcare Group has signed a definitive agreement to acquire Radiancy, developer of consumer medical devices and the PhotoMedex Neova line of dermatological products. The Boards of Directors of both companies have voted unanimously in favor of the transaction, which is subject to customary closing conditions, including shareholder approval and regulatory approvals. The merger is currently expected to close in the second quarter of 2016.
“I believe that this transformative acquisition creates one powerfully innovative company with unparalleled capabilities and industry leading technologies,” said Renee Barch-Niles, CEO of DS Healthcare. “The combined scope and scale make us a more strategic business partner to our customers. We will leverage our global distribution channels with a product portfolio that is broader than any other market competitor in our space. And we are pleased that the deal structure aligns the incentives of everyone involved allowing for the greatest value creation for our collective shareholders.”