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Analyst Bullish on Cynosure (CYNO) Acquisition of PMTI (PMTI)

March 18, 2013 11:32 AM EDT Send to a Friend
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Price: $19.85 --0%

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    Up: 29 | Down: 15 | New: 8
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Cynosure, Inc. (Nasdaq: CYNO) and Palomar Medical Technologies, Inc. (Nasdaq: PMTI) today announced that they have signed a definitive agreement, pursuant to which Cynosure will acquire Palomar in a cash and stock transaction valued at approximately $294 million.

Commenting on the news, analyst Richard Newitter of Leerink Swann said "Ultimately we think it's a good strategic fit providing CYNO with a nexgen diode laser technology (Vectus), market-leading IPL platform (StarLuxe/Icon), and fractionated skin resurfacing (Emerge) --- all complementary areas to CYNO's current platform . . . and ultimately believe that PMTI's technologies will be better leveraged through CYNO's WW distribution and marketing machine going forward."

Leerink Swann has an Outperform rating on Cynosure (NASDAQ: CYNO).

For an analyst ratings summary and ratings history on Cynosure click here. For more ratings news on Cynosure click here.

Shares of Cynosure closed at $28.45 yesterday.




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