Cynosure acquires assets of Ellman International

Cynosure has acquired the assets of Ellman International for approximately $13.2 million. In addition, Cynosure assumed certain contractual and current liabilities associated with normal working capital.

Ellman develops, manufactures and markets advanced radio-frequency technology for surgical and aesthetic procedures and offers a line of aesthetic lasers including the Pelleve wrinkle reduction system and PelleFirm RF body treatment system. The transaction is expected to be accretive to Cynosure’s earnings per share by the first quarter of 2015.

“This transaction complements our brand portfolio, expands our market opportunities and enhances our recurring revenue stream,” said Cynosure chairman and chief executive officer Michael Davin. “Ellman combines a 55-year history of innovation with an outstanding reputation for developing high-quality products that serve the needs of a global customer base. We believe these assets are an excellent strategic fit for Cynosure. Ellman’s RF product line broadens our technology platform, while its aesthetic lasers allow us to offer a value solution at a different price point than our current offerings.”