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Cynosure completes acquisition of Ellman International
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Cynosure announced it has acquired the assets of Ellman International for approximately $13.2 million in cash.
Under the acquisition, Cynosure also assumed certain contractual and current liabilities associated with normal working capital, according to a company press release.
Ellman develops, manufactures and markets advanced radiofrequency technology for precision surgical and aesthetic procedures and has a line of lasers.
Ellman’s line also includes multiple radiofrequency generators and single-use electrodes for aesthetic and multispecialty surgical uses, which include facial plastic and general surgery; gynecology; ear, nose and throat procedures; ophthalmology; oral and maxillofacial surgery; podiatry and proctology.
According to the press release, Cynosure expects to retain all of the employees at Ellman, which will now become a division of the company.
The current annualized revenue run-rate of Ellman is valued at $25 million. Cynosure expects the acquisition to increase the company’s earnings per share by the first quarter of 2015, according to the release.