Clayton, Dubilier and Rice to buy medical aesthetics technology firm Cynosure
Clayton, Dubilier & Rice (CD&R) has agreed to acquire medical aesthetics technology company Cynosure from Hologic for a total purchase price of $205m in cash.
Hologic expects net cash proceeds of around $138m, net of these adjustments.
Cynosure is involved in the development, manufacturing and commercialisation of medical aesthetic treatment systems for dermatologists, plastic surgeons, medical spas and other healthcare practitioners.
CD&R partner Sandi Peterson said: “The market for medical aesthetic devices is large and fragmented, with an attractive long-term outlook supported by strong demographic tailwinds, and Cynosure’s business model and channels align well with our extensive experience with similarly positioned consumer-medical device healthcare companies.”
Cynosure’s product portfolio
The company’s product portfolio is comprised of Alexandrite, diode, Nd: YAG, picosecond, pulse dye, Q-switched lasers, intense pulsed light and RF technology. It markets the products under brands such as Cynosure, Palomar, ConBio and Ellman.
Cynosure’s products can be used in various applications, including skin revitalisation, body contouring, hair removal, and women’s health.
The plastic surgeons, dermatologists, and other medical practitioners can use Cynosure’s aesthetic treatment systems to conduct non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalise the skin and reduce fat through laser lipolysis.
Also, Cynosure’s systems will help reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve women’s health.
Through a combination of direct sales and distributors, Cynosure markets its products in more than 130 countries.
Subject to regulatory approvals and other customary conditions, the deal is expected to be completed by the end of this year.
“We believe this transaction will unlock value for Hologic shareholders, and at the same time provide Cynosure and its employees the best opportunity to succeed in the medical aesthetics marketplace.”
In August this year, Hologic acquired a 46% stake in French ultrasound medical imaging firm SuperSonic Imagine.