Cynosure, a developer of laser- and light-based aesthetic devices has acquired Freemont, California-based HOYA ConBio—a wholly owned subsidiary of Japan-based HOYA Corporation. Cynosure acquired the company for $24.5 million in cash. The acquisition will expand Cynosure’s portfolio of products to include HOYA ConBio’s proprietary PhotoAcoustic energy technology. In a letter to existing customers, Cynosure noted that it will market the company’s full line of lasers—including the popular Revlite and Medlite tattoo removal systems—under the name ConBio, a Cynosure Company.
“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 will enable Cynosure to enhance its profitability,” said Michael Davin, president and CEO, Cynosure.