Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Primaeva Medical, Inc.
Sale to Syneron Medical Ltd.
Baird served as the exclusive financial advisor to Primaeva Medical, Inc.
Primaeva Medical, Inc. (“Primaeva”) recently completed its sale to Syneron Medical Ltd. ("Syneron") (NASDAQ: ELOS). Under the terms of the agreement, Syneron acquired Primaeva for $7 million in cash and an additional consideration of $23 million in cash based on achieving certain post-closing commercial milestones.
Based in Pleasanton, CA, Primaeva was founded in 2005. The company has developed a patented, minimally invasive technology for aesthetic application. Development of Primaeva’s first product is complete and is intended to improve aesthetic results by increasing the efficiency and control of sub-dermal RF energy. Previous investors include Frazier Healthcare Ventures, Delphi Ventures and Affinity Capital Management.
Syneron Medical Ltd. manufactures and distributes medical aesthetic devices based on its proprietary elos combined-energy technology of bi-polar radio frequency and light. The Company's innovative elos technology provides the foundation for highly effective, safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications including hair removal, wrinkle reduction and skin rejuvenation. Founded in 2000, Syneron’s corporate, R&D, and manufacturing headquarters are located in Israel and maintains its North American headquarters in Irvine, CA.