NEW YORK (AP) -- Syneron Medical Ltd., which makes medical devices for wrinkle reduction, hair removal and acne treatment, said Wednesday it is buying Pharos Life Corp. in a deal potentially worth up to $13.25 million as it moves into the consumer market.
Pharos, based in Canada, makes home-use light therapy products for aesthetic procedures which are marketed under the Tanda brand. Its products include devices that use blue and red LED light to kill acne-causing bacteria and plump skin.
Israel-based Syneron will assume about $2.5 million in Pharos' debt and could pay up to $13.25 million in potential performance-based payments in 2013. It said the deal gives it immediate entry into the consumer aesthetic market and brings with it established trade relationships with retailers in the U.S. and international markets.
Shares of Syneron rose 15 cents to $10.50 in morning trading.
Pharos, based in Canada, makes home-use light therapy products for aesthetic procedures which are marketed under the Tanda brand. Its products include devices that use blue and red LED light to kill acne-causing bacteria and plump skin.
Israel-based Syneron will assume about $2.5 million in Pharos' debt and could pay up to $13.25 million in potential performance-based payments in 2013. It said the deal gives it immediate entry into the consumer aesthetic market and brings with it established trade relationships with retailers in the U.S. and international markets.
Shares of Syneron rose 15 cents to $10.50 in morning trading.
