Syneron Medical (ELOS) Signs JV Agreement Establishing Syneron China
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Syneron Medical Ltd. (Nasdaq: ELOS) today announced the signing of a joint venture agreement establishing Syneron China.
Syneron's partner in Syneron China is the EverCare Medical Group, the largest aesthetic hospital chain in China. Evercare operates cosmetic surgery hospitals throughout the country and has been Syneron's distributor in China for the past two years.
Through this new Chinese subsidiary, Syneron will sell directly to medical and aesthetic professionals in China, including doctors, hospitals, medi-spas, and cosmetic chains. Syneron China will also provide training and after sales service and support. The first two offices of Syneron China were opened in Beijing and Guangzhou in August 2008. The Shanghai office is scheduled to be opened in December 2008, and two other offices will be opened by the summer of 2009. In addition to the five main offices, Syneron China will establish product demonstration centers across China.
Syneron Medical, Ltd., together with its subsidiaries, designs, develops, and markets aesthetic medical products based on its ELOS technology to provide aesthetic medical treatments.
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