Global medical and aesthetic device companies, Cynosure and Lutronic have announced a strategic merger.
Cynosure’s majority owner Clayton, Dubilier, & Rice, LLC (CD&R) has entered into the agreement with South Korean private equity firm, Hahn & Company. Lutronic reportedly partnered with the firm in June 2023.
In July, Professional Beauty reported on the distribution acquisition of Lutronic by Australian and New Zealand device distributor, Cyromed Aesthetics from AC Skin Group (ACSG).
The global merger is set to be completed in the first quarter of 2024. The companies will continue to operate independently in the meantime. Terms of the transaction have not been disclosed.
In a press statement to partners, Cynosure’s global Chief Executive Officer, Nadav Tomer said: “No action is required on your part, as this should be seamless to our customers. Please continue to interact with us as you do today, and our existing representatives remain available to help ensure your experience remains the same.”
For over 30 years, Cynosure has distributed a range of energy-based technologies to practitioners, physicians, and aesthetic business owners in Australia and overseas. Devices operate to treat a range of skin indications, in addition to body contouring, hair removal, gynecological health, and more.
For over two decades, Lutronic has been a global leader in the development of intelligent laser and energy-based systems. Committed to research and development at the forefront of aesthetic technology, Lutronic has market leading products in skin resurfacing and revitalisation, hair removal, vascular lesion treatment, skin toning, and body contouring by utilising laser, radio frequency, and electric muscle stimulation technologies.
“Hahn & Company’s decision to acquire and merge Lutronic and Cynosure was driven by the desire to expand into new markets and product offerings, coupled with a shared commitment to deliver excellence, innovation, high efficacy and safety for customers, and the substantial potential to grow alongside our existing customer base. Cynosure and Lutronic are highly complementary businesses. This combination will result in one of the most innovative, commercially savvy, and broad-based portfolios in global medical device aesthetics.” – Nadav Tomer, CEO Cynosure
Hahn & Company’s international portfolio extends into various industries, from transportation and logistics to hospitality and consumer goods. “Hahn & Company’s interest in Cynosure demonstrates the success of our strategy, and our focus on you and your business will not change,” Nadav continued.
This article was originally produced by Hannah Gay and Nadine Dilong for SPA+CLINIC. It can be found here.
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