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Cutera acquires IRIDEX aesthetic unit
Cutera Inc. and IRIDEX Corp. have entered into a binding agreement for Cutera to purchase certain assets of IRIDEX’s global aesthetic business for about $5.1 million.
Brisbane and Mountain View, CA-Cutera Inc. and IRIDEX Corp. have entered into a binding agreement for Cutera to purchase certain assets of IRIDEX’s global aesthetic business for about $5.1 million.
Currently, both companies serve the growing global aesthetic market, with IRIDEX’s strength in vascular treatments, a mainstay in the dermatology specialty. This proposed strategic combination is expected to advance Cutera’s presence among physicians and create a stronghold in the vascular aesthetic sector.
Kevin Connors, president and chief executive officer of Cutera, said the deal will create one of the most comprehensive portfolios of vascular laser solutions in the industry.
Dominik Beck, PhD, president and chief executive officer of IRIDEX, said the deal allows his company to refocus its resources on “the substantial and growing ophthalmology opportunity that is core to IRIDEX’s future.”
The transaction is expected to close in early 2012.
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