Syneron (ELOS) to Aquire Ultrashape in $12M Cash Deal
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Syneron Medical Ltd. (Nasdaq: ELOS), has signed a definitive agreement to acquire Ultrashape Ltd., a developer, manufacturer and marketer of innovative non-invasive technologies for fat cell destruction and body sculpting.
Ultrashape is the sole operating entity of Ultrashape Medical and it owns all rights and interests in the fat cell reduction and body sculpting business. Ultrashape's products are approved and commercially available in Europe, Canada, Latin America and Asia.
Under terms of the agreement, Syneron will acquire 100% of the outstanding shares of Ultrashape Ltd. from Ultrashape Medical Ltd. for $12.0 million in cash. The acquisition is subject to customary closing conditions and is expected to close by the end of Q112.
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Ultrashape is the sole operating entity of Ultrashape Medical and it owns all rights and interests in the fat cell reduction and body sculpting business. Ultrashape's products are approved and commercially available in Europe, Canada, Latin America and Asia.
Under terms of the agreement, Syneron will acquire 100% of the outstanding shares of Ultrashape Ltd. from Ultrashape Medical Ltd. for $12.0 million in cash. The acquisition is subject to customary closing conditions and is expected to close by the end of Q112.
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