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Westford laser health-care and aesthetics systems maker Cynosure Inc. has paid $24 million in cash for the assets of the aesthetic laser business of California’s HOYA ConBio. The laser business is based on HOYA ConBio’s proprietary PhotoAcoustic energy technology.
With an installed base of more than 3,200 aesthetic laser systems worldwide, HOYA ConBio generated revenue of $23.9 million from aesthetic applications for its fiscal year ending March 31, 2011. The company derived most of that from outside the United States, and that business line has been profitable for two years, according to a release from Cynosure.
The deal brings Cynosure (Nasdaq: CYNO) the North America business of HOYA ConBio, as well as independent distributors in the Asia Pacific region, and HOYA ConBio’s European aesthetic laser business, based in Courtaboeuf Cedex, France. A total of 50 employees make up the business unit, all of whom have been offered positions with Cynosure, the company said. Specific product families that Cynosure got in the acquisition include the MedLite C series, RevLite, DermaSculpt and V-Raser.
Based in Fremont, HOYA ConBio is a wholly owned subsidiary of Japan’s HOYA Corp.
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