Syneron Forms "Syneron Beauty" Subsidiary Focused on Direct to Consumer Home-Use Market; Appoints Fabian Tenenbaum as CEO of Syneron Beauty
Syneron Medical Ltd. (NASDAQ: ELOS), the leading global aesthetic device company, announced today the formation of a new subsidiary, Syneron Beauty, which will consolidate the Company's consumer businesses, including the development, sales, marketing and distribution for all of Syneron's consumer products, which include the Company's home-use partnership with Procter & Gamble, the Tanda family of home-use light therapy products, the me home-use hair removal system, and the Fluorinex teeth whitening home-use system. Fabian Tenenbaum, previously Syneron Medical Executive Vice President and Chief Financial Officer, has been appointed Chief Executive Officer of Syneron Beauty.
Dr. Shimon Eckhouse, Chairman of the Board of Directors and co-founder of Syneron, and chairman of Syneron Beauty, commented, "The launch of the Syneron Beauty subsidiary demonstrates our commitment to the aesthetic home-use market. We believe this market represents a major growth opportunity for Syneron with both our existing and in-development aesthetic technologies. With the recent addition of the Tanda product line, which is complementary to our home use initiative with Procter and Gamble, we now have a critical mass of aesthetic home-use products in various stages of development and commercialization and sales that we believe will be best served with dedicated resources and management focus."
Fabian Tenenbaum, Chief Executive Officer of Syneron Beauty, said, "Bringing together all of our consumer home-use products into a single business unit will allow us to most effectively drive adoption of our products in the important and growing home-use aesthetic market. Syneron Beauty has leveraged the broad aesthetic technology and intellectual property developed by Syneron Medical to create a deep portfolio of home-use technologies. We will also benefit from Syneron Medical's commercialization experience and strong relationships with key luminaries and distribution partners around the world. Our goal is to utilize these advantages to mirror the success of Syneron Medical and quickly become a leader in the consumer, home-use aesthetic industry."
In conjunction with the launch of the Syneron Beauty subsidiary, the Company announced the United Kingdom launch of the me home-use hair removal system. The official product launch took place today at a press conference in London. me will be distributed in the United Kingdom by HoMedics Inc., a leading health and wellness product company. It will be sold in Boots, a leading international pharmacy-led health and beauty group with more than 3,250 worldwide retail locations.
The me system is currently available in a range of consumer retail outlets in several European markets and in Israel. The dual action system utilizes Syneron's proprietary elos technology, combined with an optional epilator or shaver accessory, to achieve both permanent and immediate hair reduction. elos is the first and only technology that combines the power of Intense Pulse Light (IPL) and Radio Frequency (RF) energies, allowing it to achieve better results with lower overall optical energy output and highest level of safety and comfort. More information on me is available at www.memyelos.com (http://www.memyelos.com) .
Mr. Omri Hayet, Chief Operating Officer of Syneron Beauty, commented, "We have received positive feedback from the initial launch of me in several European markets and in Israel and look forward to further geographical expansion with the upcoming rollout in the United Kingdom. We have aligned ourselves with strong distribution and retail partners who are committed to a successful launch and driving adoption of the me system. We expect that me will be well received as it provides several advantages for consumers seeking an effective, quick and easy to use home-use hair removal system. The system's proprietary elos treatment can be integrated with an optional epilator or shaver, which adds the convenience of an immediate hair removal solution. The dual action system requires no preparation and is up to four times faster than existing energy based consumer hair removal systems."
About Syneron BeautySyneron Beauty is a pioneer in the design, development and distribution of sophisticated consumer home-use aesthetic devices and products. The Company's products are based on clinically proven technologies derived from the professional aesthetic device market, enabling patients to achieve professional-like results in an at-home setting. Syneron Beauty currently markets the Tanda family of home-use light therapy products and the me home-use hair removal system. The Company also has a home-use partnership with Procter & Gamble and several other new products in development. Syneron Beauty is based in Yokneam, Israel and is a wholly owned subsidiary of Syneron Medical Ltd. (NASDAQ: ELOS).
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. Additional information can be found at www.syneron.com (http://www.syneron.com) .