Aesthetic device company Cynosure and Korean private equity Hahn & Company have entered a definitive merger agreement.
The private equity company has recently acquired Lutronic and aims for the merger to be a strategic agreement between both device companies. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions.
The company explains that the combination creates a global leader in medical aesthetic systems with a product portfolio and commercial presence in more than 130 countries.
The combined company aims to offer customers and patients a broader product and consumable suite, a depth of related clinical training and services, expanded research and development capabilities and a reinforced supply chain, notes Cynosure.
Nadav Tomer, CEO of Cynosure, commented, “The strategic combination will create a combined company with the resources, product portfolio and expertise that will benefit our customers, partners and employees. We are thrilled that Cynosure is partnering with Lutronic as we believe this will create a distinct opportunity to combine two strong global players in energy-based medical device technology for aesthetics.”