Cynosure Establishes Wholly Owned Subsidiary In China
December 07 2006 - 8:00AM
PR Newswire (US)
48% Remaining Interest Acquired in Asia Joint Venture to Expand
Sales Capacity in One of the World's Fastest Growing Consumer
Markets WESTFORD, Mass., Dec. 7 /PRNewswire-FirstCall/ -- Cynosure,
Inc. (NASDAQ:CYNO), a leading developer and manufacturer of lasers
and pulsed light sources, today announced that it has become the
first U.S. aesthetic laser company to have a wholly owned
subsidiary in the People's Republic of China. Cynosure has acquired
the remaining 48% interest in Suzhou Cynosure Medical Devices, Co.,
a joint venture with Suzhou 66 Vision-Tech Co., Ltd., and will
operate the company as a wholly owned subsidiary of Cynosure, Inc.
that will be called Cynosure China. "Our wholly owned subsidiary
represents an opportunity to leverage the strong customer
relationships we have established over the course of our successful
joint venture with Suzhou 66 Vision-Tech," said Cynosure President
and Chief Executive Officer Michael Davin. "With the acquisition of
the remaining interest in Cynosure China, our strategy is to build
long-term marketing momentum by emphasizing our reputation for
providing patients with outstanding results and enabling our
customers to build their practices with a variety of aesthetic
laser offerings. Our newest flagship products are currently in the
regulatory review process in China, and we expect to begin
receiving market approvals there over the next 12-15 months."
Cynosure China currently employs 15 people. The address and contact
details for the office are: 5th Floor, Yuan Dong Da Sha 251 Chang
Xu Road Suzhou 215008, Jiangsu People's Republic of China Tel: +86
(512) 655 17051 Fax: +86 (512) 655 78485 About Cynosure, Inc.
Cynosure, Inc. develops and markets aesthetic treatment systems
that are used by physicians and other practitioners to perform
non-invasive procedures to remove hair, treat vascular lesions,
rejuvenate skin through the treatment of shallow vascular and
pigmented lesions and temporarily reduce the appearance of
cellulite. Cynosure's products include a broad range of laser and
other light-based energy sources, including Alexandrite, pulse-dye,
Nd:YAG and diode lasers, as well as intense pulsed light. Cynosure
was founded in 1991. For corporate or product information, contact
Cynosure at 800-886-2966, or visit http://www.cynosurelaser.com/.
Any statements in this press release about future expectations,
plans and prospects for Cynosure China, including statements
containing the words "believes," "anticipates," "plans," "expects,"
"will," and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including our history of operating losses, our
reliance on sole source suppliers, competition in the aesthetic
laser industry, economic, market, technological and other factors
discussed in Cynosure's Annual Report on Form 10-K filed with the
SEC. In addition, the forward-looking statements included in this
press release represent Cynosure's views as of the date of this
press release. Cynosure anticipates that subsequent events and
developments will cause its views to change. However, while
Cynosure may elect to update these forward-looking statements at
some point in the future, it specifically disclaims any obligation
to do so. These forward-looking statements should not be relied
upon as representing Cynosure's views as of any date subsequent to
the date of this press release. Contact: Scott Solomon Vice
President Sharon Merrill Associates, Inc. 617.542.5300 DATASOURCE:
Cynosure, Inc. CONTACT: Scott Solomon, Vice President of Sharon
Merrill Associates, Inc. for Cynosure, Inc., +1-617-542-5300, Web
site: http://www.cynosurelaser.com/
Copyright
Cynosure (NASDAQ:CYNO)
Historical Stock Chart
From May 2024 to Jun 2024
Cynosure (NASDAQ:CYNO)
Historical Stock Chart
From Jun 2023 to Jun 2024