The Zacks Analyst Blog Highlights: Cutera, IRIDEX, Cynosure, Palomar Medical Technologies and Syneron Medical - Press Releases
January 10 2012 - 3:30AM
Zacks
For Immediate Release
Chicago, IL – January 10, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Cutera
Inc (CUTR), IRIDEX
Corporation (IRIX), Cynosure
Inc. (CYNO), Palomar Medical
Technologies (PMTI) and Syneron Medical
Ltd. (ELOS).
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Here are highlights from Monday’s Analyst
Blog:
Cutera Buys IRIDEX’s Aesthetic Biz
Medical devices maker Cutera
Inc (CUTR) recently cut an asset purchase deal with
California-based laser systems and delivery devices
maker IRIDEX Corporation (IRIX). Under
the deal, Cutera has agreed to acquire specific aesthetic laser
assets of IRIDEX for roughly $5.1 million.
The transaction, which has been cleared by the Boards of both
companies, is expected to complete in early 2012. Cutera expects to
finance the deal using its available cash resources.
Both Cutera and IRIDEX currently serves the roughly $1 billion
worldwide aesthetic market. The acquisition of IRIDEX’s aesthetic
assets will bolster Cutera’s foothold in the vascular aesthetic
market.
The acquisition adds IRIDEX’s portable VariLite dual wavelength
system to Cutera’s vascular laser product range (includes the Excel
V laser), enabling the company to offer physicians a comprehensive
suite of solutions for treating a broad spectrum of
vascular aesthetic indications.
Under the pact, IRIDEX has agreed to provide Cutera with
transitional product and service support. The divestiture of its
aesthetic laser assets to Cutera will allow the company to refocus
on the core ophthalmology opportunity, which is critical for its
future growth.
Cutera develops and markets laser aesthetics systems for
physicians and qualified practitioners globally and offers its
products under three platforms, such as, Solera, Xeo and CoolGlide.
The company markets its products through a direct sales
force and distributors. Cutera competes
with Cynosure
Inc. (CYNO), Palomar Medical
Technologies (PMTI) and Syneron Medical
Ltd. (ELOS) among others.
Cutera recently announced fourth-quarter 2011 preliminary
revenues of roughly $18 million. The company noted that it has
maintained double-digit sales growth for the third consecutive
quarter. Cutera expects to unveil full results for the quarter on
February 13.
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CUTERA INC (CUTR): Free Stock Analysis Report
CYNOSURE INC-A (CYNO): Free Stock Analysis Report
SYNERON MED LTD (ELOS): Free Stock Analysis Report
IRIDEX CORP (IRIX): Free Stock Analysis Report
PALOMAR MED TEC (PMTI): Free Stock Analysis Report
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