Syneron Medical Completes Agreement to Enter Global Joint Venture in Home Beauty Devices Syneron Beauty now part of Iluminage Beauty joint venture with Unilever Ventures
YOKNEAM, Israel, Dec. 9, 2013 /PRNewswire/ -- Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today that it has completed its previously announced agreement with Unilever Ventures to create a global joint venture in home beauty devices. The new joint venture, Iluminage Beauty, will develop and bring to consumers innovative, high performance beauty solutions, empowering them with professional level devices for at-home use.
Shimon Eckhouse, Chief Executive Officer of Syneron Medical, commented, "We believe Iluminage Beauty is well positioned to gain share in the home beauty device market. The joint venture structure will allow us to focus on driving growth in our professional aesthetic business while also maximizing the value of our investment in our home-use business."
The joint venture will leverage Unilever's global experience in the development and marketing of consumer beauty products and Syneron Medical's expertise in professional aesthetic device technology.
About Syneron Medical Ltd.
Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company's technology enables physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin's appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite. The Company sells its products under two distinct brands, Syneron and Candela. Founded in 2000, the corporate, R&D, and manufacturing headquarters for Syneron Medical Ltd. are located in Israel. Syneron also has R&D and manufacturing operations in the US. The Company markets and services and supports its products in 90 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and distributors worldwide.
SOURCE Syneron Medical Ltd.