This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cynosure Acquires Aesthetic Laser Business Of HOYA ConBio

WESTFORD, Mass., June 28, 2011 /PRNewswire/ -- Building on its reputation as a global technology leader in laser and light-based aesthetic systems, Cynosure, Inc. (NASDAQ: CYNO) today announced that it has acquired the assets of the aesthetic laser business of HOYA ConBio®, a wholly owned subsidiary of Japan-based HOYA Corporation (TSE code: 7741), for $24.5 million in cash.  HOYA ConBio is based in Fremont, California.

The acquisition expands Cynosure's broad product portfolio with the addition of HOYA ConBio's proprietary PhotoAcoustic energy technology, which uses high-speed energy waves to penetrate the skin in nanoseconds, minimizing the amount of heat in each procedure.  HOYA ConBio has an installed base of more than 3,200 aesthetic laser systems worldwide.  For the fiscal year ended March 31, 2011, HOYA ConBio generated revenue of $23.9 million from aesthetic applications, approximately 80% of which was derived from outside of the United States.  HOYA ConBio's aesthetic laser business has been profitable for the past two years.

"We believe that this acquisition will create significant new opportunities for us to grow our market share in popular aesthetic indications such as skin rejuvenation and tattoo removal, while allowing efficiencies that enable Cynosure to enhance its profitability," said Michael Davin, Cynosure's president and chief executive officer.  "Excluding any acquisition-related expenses, we expect this transaction to be accretive to earnings in 2012."

"With a large global installed base and an outstanding reputation for reliability, HOYA ConBio's proprietary Q-Switched laser technology further broadens our comprehensive technology lineup, complementing our portfolio of Alexandrite, YAG, pulse dye, and intense pulsed light products," Davin said. "We also believe that the acquisition: offers substantial cross-selling and marketing opportunities; creates new distribution channels; provides an opportunity to expand our direct sales in certain overseas markets; and allows us to leverage HOYA ConBio's technology development resources to develop future products that incorporate the aesthetic technologies of the combined company."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs