Candela Corp has acquired all share capital of Inolase (Netanya, Israel) in a cash transaction valued at $16.5 million, excluding certain earn-out royalty payments contingent on the attainment of specified performance targets.
Inolase is the developer and manufacturer of Pneumatic Skin Flattening™ (PSF), a vacuum-driven technology that provides pain-free enhancements to all laser and light-based devices. PSF is FDA-approved for hair removal when used with lasers or intense pulsed-light systems. The system is also under investigation for nonablative skin rejuvenation, skin tightening, and treatment of pigmented lesions and tattoos.
Subsequent plans are to market PSF to work with Candela’s installed base of equipment beginning in fall 2007. The acquisition is expected to be accretive to earnings within 18 months.
[Candela Corp, March 7, 2007]