Cynosure and Hahn & Company, which recently acquired Lutronic, have announced their definitive merger agreement for a strategic combination of Cynosure and Lutronic.
Both Cynosure and Lutronic are renowned providers of energy-based medical aesthetic treatment systems and related technologies and the merge is set to create a leading global medical aesthetics technology company. The transaction is expected to be completed in the first quarter of 2024.
This strategic union establishes a dominant player in the medical aesthetics systems market, boasting a diversified and innovative product portfolio, as well as a presence in over 130 countries worldwide. The merged company will offer customers and patients an expanded range of products and consumables, comprehensive clinical training and services, bolstered research and development capabilities, a wider geographic footprint, and an enhanced supply chain to ensure uninterrupted delivery of products and services.
“Partnering with Cynosure is a meaningful and transformational next step in diversifying our portfolio and scaling our company,” said Haelyung Hwang, Founder and CEO of Lutronic. “This strategic combination furthers Lutronic’s mission to drive innovation and provide superior products and customer service to aesthetics providers around the world. Cynosure’s innovative medical device technology, commercial infrastructure and best-in-class brand-building capabilities will broaden our product line and customer base globally.”
Nadav Tomer, CEO of Cynosure, stated, “The strategic combination will create a combined company with the resources, product portfolio and expertise that will benefit our customers, partners and employees. We are thrilled that Cynosure is partnering with Lutronic as we believe this will create a distinct opportunity to combine two strong global players in energy-based medical device technology for aesthetics.”
About Cynosure
Cynosure, with a history of over 30 years of science-driven innovation, is a leading provider of medical aesthetic treatment systems that enable healthcare practitioners to perform non-invasive and minimally invasive procedures. Their extensive product range encompasses various categories, including skin revitalisation, body contouring and hair removal. Cynosure’s products are sold globally through direct sales in multiple countries, including Australia, the United States, Canada, France, Germany, Australia, Japan and Korea, as well as through international distributors in approximately 130 other countries. For more information, please visit Cynosure’s website at www.cynosure.com.
About Lutronic
For more than two decades, Lutronic has held a prominent position as a global leader in intelligent laser and energy-based systems development. Committed to pushing the boundaries of aesthetic technology, Lutronic offers market-leading products in areas like skin resurfacing and revitalisation, hair removal, vascular lesion treatment, skin toning, and body contouring, utilising laser, radio frequency, and electric muscle stimulation technologies. With over 535 patents and patent applications worldwide, Lutronic is devoted to continuous research and development. For additional information, please visit lutronic.com.
In July 2023, Lutronic Australia was acquired by aesthetic device distributor Cryomed Aesthetics, part of a strategic move to further strengthen Cryomed’s product portfolio and rapidly expanding presence in the ANZ markets.
About Hahn & Company
Hahn & Company is South Korea’s largest private equity investment firm, managing assets exceeding US$14.6 billion. Hahn & Company controls businesses generating revenues surpassing KRW 20 trillion (US$15 billion), with assets of KRW 34 trillion (US$27 billion) and a global workforce of over 30,000 employees (www.hcompany.com).
Source: Cynosure; Lutronic
