IRVINE, Calif., June 15, 2017 /PRNewswire/ -- Syneron
Medical Ltd. (NASDAQ: ELOS) today announced that its shareholders
have approved the previously announced definitive agreement under
which an affiliate of funds advised by Apax Partners will acquire
all of the outstanding shares of Syneron Candela for $11.00 per share in cash in a transaction valued
at approximately $397 million (the
"Merger Agreement").
93.3% of the ordinary shares voting at the special shareholder
meeting were voted in favor of the Merger Agreement.
The acquisition is expected to be completed in mid-July, subject
to the satisfaction of the remaining closing conditions.
About Syneron Candela
Syneron Candela is a leading
global non-surgical 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, tattoo
removal, women's intimate health, improving 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 has a wide portfolio of trusted, leading products including
UltraShape Power, VelaShape, CO2RE, CO2RE
Intima, GentleLase, VBeam Perfecta, PicoWay, Profound and elōs
Plus.
Founded in 2000 and headquartered in Israel, Syneron Candela has R&D and
manufacturing operations in Israel
and the U.S. The company markets, services and supports its
products in nearly 100 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan,
and Hong Kong and distributors
worldwide.
Forward Looking Statements
This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. Such forward-looking statements include statements
regarding the expected timing of the proposed acquisition. Such
"forward looking statements" involve known and unknown risks,
uncertainties and other factors that may cause actual results or
performance to differ materially from those projected.
Achievement of these results by the Company may be affected by many
factors, including, but not limited to, risks and uncertainties
regarding the ability to close the proposed transaction on the
proposed terms and within the anticipated time period, or at all,
which is dependent on the parties' ability to satisfy certain
closing conditions; the risk that the benefits of the potential
transaction may not be fully realized or may take longer to realize
than expected; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or
suppliers; the risk that the Company's business may not perform as
expected; as well as general economic conditions. Additional
information regarding these and other factors is contained in the
Company's filings with the SEC, including those described in the
Company's most recent Annual Report on Form 20-F. The statements
made by the Company are based upon management's current
expectations and the Company undertake no obligation to
publicly update or revise any forward-looking statements to reflect
events or circumstances that may arise after the date of this
release except as required by law.
For additional information, please visit
http://www.syneron-candela.com.
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SOURCE Syneron Medical Ltd.