It is forecast to generate annual revenue of more than $180m based on the quarter ended 30 June 2009. Once the agreement is finalised at the end of 2009, the company is likely to have more than $240m in its pocket – and no debt.
Scafuri says that by using the IP and product line of both companies, the combined company, which will sit over the top of both divisions, will be able to offer the broadest product portfolio in the industry as well as increase its global footprint and drive innovation – not bad for having fewer staff and less overall cost. “Today’s business climate and the needs of aesthetic providers require an aesthetic technology company to be even more market-responsive than ever before,” Scafuri said. It will also improve its financial strength, according to Syneron CEO Louis P Scafuri. Syneron has about 300 employees and Candela 405 – this number is set to be drastically reduced as a result of the takeover, in return improving the company’s bottom line. By merging their companies, they can not only reduce their staff outlay but improve on operational efficiency, according to GlobalData. Syneron and Candela are just two companies that recognised where their obvious synergies lie. “Aesthetic and laser surgery suffered a blow as a result of the economic downturn.”
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