Cutera and IRIDEX Corporation have entered into a binding agreement for Cutera to purchase certain assets of IRIDEX’s global aesthetic business for approximately $5.1 million. Both companies serve the approximately $1 billion global aesthetic market, with IRIDEX's strength in vascular treatments. This proposed strategic combination is expected to advance Cutera's presence among core physicians worldwide and create a stronghold in the vascular aesthetic sector.
“We are pleased to announce this transaction with IRIDEX which illustrates our strategy to leverage our products in the core markets and strengthens our global footprint, particularly in Europe,” said Kevin Connors, president and CEO of Cutera. “Combined, we'll offer one of the most comprehensive portfolios of vascular laser solutions in the industry today. With Cutera's premium Excel V laser and the IRIDEX portable VariLite dual wavelength system, we'll enable physicians to effectively treat a wider range of vascular aesthetic indications at multiple price points.”