Cynosure

Established in 1991, Cynosure has carved out a significant position in the global medical aesthetics market by developing and manufacturing light-based treatment systems. The company's business model is centered on the research, development, and direct sale of these high-tech medical devices to a client base that includes dermatologists, plastic surgeons, and aesthetic business owners. Revenue is primarily generated through the sale of its aesthetic and medical treatment systems and associated technologies, including disposables like the consumable PAC keys for its SculpSure product.

Cynosure's product portfolio is extensive, utilizing a broad range of energy sources such as Alexandrite, diode, Nd: YAG, and picosecond lasers, as well as intense pulsed light (IPL) and radiofrequency (RF) technology. These platforms address a wide array of non-invasive and minimally invasive procedures, including hair removal, skin revitalization, scar reduction, body contouring, and tattoo removal. Key products that have contributed to its growth include SculpSure® for non-invasive fat destruction, MonaLisa Touch® for women's health, and the PicoSure® platform for tattoo removal and skin revitalization.

The company's history is marked by strategic acquisitions and corporate shifts. A notable acquisition was Palomar Medical Technologies in 2013 for $287 million, which significantly expanded its product line and drove revenue growth. Over the years, Cynosure has experienced several changes in ownership. It was acquired by Hologic, Inc. in 2017 for approximately $1.65 billion. Subsequently, Hologic divested Cynosure, selling it to the private equity firm Clayton, Dubilier & Rice in late 2019 for $205 million. More recently, in early 2024, Hahn & Company completed its acquisition of Cynosure with the plan to merge it with Lutronic, another global provider of energy-based aesthetic devices. This merger formed Cynosure Lutronic, Inc., a move intended to create a more diverse product portfolio and strengthen its global commercial presence in over 130 countries.

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