The acquisition of the Israeli esthetic medical company is at a 15% premium on the average closing price in the first quarter.
Israeli esthetic medical products company Syneron Medical Ltd. (Nasdaq: ELOS) has confirmed that it is being acquired by private equity advisory firm Apax Partners. Apax will acquire all of the outstanding shares of Syneron for $11 per share in cash in a transaction valued at $397 million. The per share acquisition price represents a 15% premium on Syneron Candela's 90-day volume-weighted average closing price through March 31 2017
Syneron Candela cofounder and chairman Dr. Shimon Eckhouse said, "This acquisition is a strong recognition of Syneron Candela's leadership in the aesthetic medical device market, its leading world-class technology and unique global footprint.