Syneron Medical has entered into an agreement to acquire New Star Lasers, which conducts business as CoolTouch, for approximately $11 million in cash and earn out based on certain milestones of up to $4 million until end of 2015. New Star Lasers develops, manufactures and markets the CoolTouch family of aesthetic devices. Syneron anticipates the acquisition will close this month (March 2014).
"The acquisition of CoolTouch significantly enhances Syneron's product offerings and market opportunity, while also improving the recurring revenue profile of our business. We believe CoolTouch will add value to Syneron's product offerings by expanding our reach into new markets such as the endovascular treatment of varicose veins and minimally invasive laser assisted lipolysis,” said Shimon Eckhouse, CEO of Syneron. “In addition, the CoolTouch business model also supports our strategy to increase sales of products with recurring revenue streams. We are very pleased to welcome the CoolTouch team to Syneron and look forward to expanding adoption of their products and technology through our global commercial infrastructure."