Syneron Medical

Syneron Medical Ltd.

Type	Public
Traded as	NASDAQ: ELOS
Industry	Healthcare
Founded	2000
Founder	Shimon Eckhouse
Headquarters	Yokneam, Israel
Key people	Amit Meridor, CEO (since February 18, 2014)
Services	Medical appliances and equipment
Revenue	US$189.528 million (2010)
Operating income	US$–33.402 million (2010)
Net income	US$–25.536 million (2010)
Website	syneron-candela.com
Footnotes / references [1]

Syneron Medical Ltd. is a public company, that develops and markets aesthetic medical products. Its product line includes devices for hair removal, wrinkle treatment, and skin rejuvenation. Shares of Syneron are traded on the NASDAQ Global Select Market.

Description

Syneron Medical operates in the esthetic medical products industry, developing and manufacturing a range of electronic devices and associated products for use in nonsurgical cosmetic procedures, such as hair removal, wrinkle reduction and skin tightening. Among the companies with which Syneron competes are Lumenis, Zeltiq Aesthetics, Cutera, Solta Medical, Venus Concept, Cynosure, and Palomar Medical Technologies.^[2][3]

Products

• LipoLite – U.S. Food and Drug Administration (FDA)-approved (2008) laser device for use in lipolysis procedures^[4]
• Matrix RF – FDA-approved (2008) radiofrequency device for use in dermatological procedures^[5]
• VelaShape – FDA-approved (2007) body contouring device^[6]
• Elure Advanced Skin Lightening system – Allure (2011) Best of Beauty Breakthroughs award^[7]
• GentleMax Pro – high-speed hair removal device^[8]

Corporate history

Syneron Medical was founded in 2000 by Shimon Eckhouse (b. 1945), Technion alumnus and later UC Irvine graduate (Physics, Ph.D).^[9][10][11] In 2004 shares of Syneron began trading on the Nasdaq National Market.^[12] In 2007 Syneron entered into an exclusive cooperation agreement with Procter & Gamble, according to which Syneron develops and manufactures its products and Procter & Gamble markets and distributes them.^[13] In 2008 Syneron began expanding into the Chinese market, where its primary clients are hospitals and beauty clinics.^[14] Syneron capitalized on the 2009 global recession to acquire Massachusetts-headquartered light-based esthetic therapy company Candela Corporation.^[15]

Since its inception, Syneron's operations have been coordinated by four CEOs. Moshe Mizrahi was Syneron's first CEO and served the company for five years, through 2005. His place was taken by David Schlachet, who held the position for one and a half years, until 2007. Schlachet was replaced by Doron Gerstel, who also held the position for one and half years, until 2009. Louis (Lou) Scafuri, Syneron's first American CEO, has been with the company since February 2009.^{[16][17][18][19]}

Acquisitions

Company	Year	Price	Reference
Rakuto Bio Technologies Ltd.	2008		[20]
Inlight Inc.	2008		[20]
Primaeva Medical, Inc.	2009		[21]
Candela Corporation	2010	$65 million	[22]
Pharos Life Corporation	2010	$15.8 million	[23]
Ultrashape	2012	$12 million	[24]
New Star Lasers, Inc. (dba CoolTouch Inc.)	2014	$11 million	[25]

See also

• Non-surgical liposuction
• Cosmetic dermatology
• Intense pulsed light
• Electro-optical synergy
• List of Israeli companies quoted on the Nasdaq
• Startup Village, Yokneam

References

1. "ELOS Income Statement". Yahoo! Finance. 2011. Retrieved 22 October 2011.
2. "US court grants Lumenis preliminary injunction against Syneron". Globes. 20 July 2003. Retrieved 22 October 2011.
3. "Canada OKs Cutera's GenesisPlus". Yahoo! Finance. Zacks Equity Research. 22 July 2011. Retrieved 22 October 2011.
4. Bernstein, Eric F. (2010). "Laser Liposuction Treatment and Devices". The Patient's Guide. Retrieved 22 October 2011.
5. "Radiofrequency device for skin treatment wins FDA approval". Aesthetic Medical News. CNNMoney.com. 8 October 2008. Retrieved 22 October 2011.
6. Owens, Lara G. (Autumn 2007). "VelaShape Offers Greater Efficacy for Body Contouring with Fewer Treatments" (PDF). AESTHETIC. Medical Insight, Inc. Retrieved 22 October 2011.
7. Le Poer Trench, Brooke (2011). "Best of Beauty: The Big Breakthroughs". Allure. Retrieved 22 October 2011.
8. "Romeo & Juliette Laser Hair Removal is the First Facility in the Nation to Own the GentleMax Pro". Sacramento Bee. PR Newswire. 14 February 2012. Retrieved 20 February 2012.
9. "Lumenis sues founder Shimon Eckhouse for $30m". Globes. 12 September 2002. Retrieved 22 October 2011.
10. Goder, Itay (13 January 2010). "חיפה: יזם סדרתי מחפש מלצריות מנוסות" [Haifa: Serial entrepreneur seeks experienced waitresses]. Nrg Maariv (in Hebrew). Retrieved 22 October 2011. אקהויז נולד בעיירה צ'רנוביץ שבאוקראינה במאי 1945, ימים ספורים לאחר כניעתה של גרמניה הנאצית לבעלות הברית.
11. "Dr. Shimon Eckhouse". Tel Aviv University. December 2009. Retrieved 22 October 2011.
12. "Syneron Announces Closing of IPO". LifeSciencesWorld. PRNewswire. 13 August 2004. Retrieved 22 October 2011.
13. Cohen, Omri (27 February 2007). "סינרון חתמה על חוזה אסטרטגי עם פרוקטר אנד גמבל" [Syneron signed strategic agreement with Procter & Gamble]. Haaretz (in Hebrew). Retrieved 22 October 2011.
14. Jie, Liu (13 December 2010). "Cosmetic surgery gets a new facelift". China Daily. Beijing. Retrieved 22 October 2011.
15. "Syneron and Candela – the New Face of Cosmetics". Medical Device Network. 16 October 2009. Retrieved 22 October 2011.
16. "Moshe Mizrahi sells remaining Syneron stake for $50m". Globes. 28 November 2005. Retrieved 22 October 2011.
17. "David Schlachet Profile". Forbes. Retrieved 22 October 2011.
18. "Doron Gerstel: Executive Profile & Biography". Bloomberg Businessweek. Retrieved 22 October 2011.
19. Tsipori, Tali (12 October 2010). "מנכ"ל סינרון: 'Candela חיזרה אחרינו ולא אנחנו אחריה'" [Syneron CEO: 'Candela courted us and not we it']. Globes (in Hebrew). Retrieved 22 October 2011.
20. "Syneron buys US laser start-up". infoTECH. Globes. 5 November 2008. Retrieved 22 October 2011.
21. Ryan, Renee (October 2009). "Baird's Investment Banking Group is pleased to announce the following transaction". Robert W. Baird & Co. Retrieved 22 October 2011.
22. Tsipori, Tali (21 July 2010). "Aesthetic laser co Syneron gains more from Candela acquisition". Globes. Retrieved 22 October 2011.
23. Tsipori, Tali (9 December 2010). "Aesthetic laser co Syneron buys US co". Globes. Retrieved 22 October 2011.
24. Weinreb, Gali (8 February 2012). "Syneron acquires Ultrashape for $12m". Globes. Retrieved 8 February 2012.
25. "Syneron Medical Acquires New Star Lasers". Retrieved 20 February 2014.