Healthcare Industry News: WaveLight
News Release - September 19, 2007
QUANTEL Finalizes the Acquisition of WaveLight Aesthetic GmbH
LES ULIS, France, September 19 (HSMN NewsFeed) -- Following the successful OCEANE bond issue, completed last Friday, which has made it possible to raise EUR7.6 million, Quantel signed on September 18th a definitive agreement with the German company WaveLight AG to acquire WaveLight Aesthetic GmbH, its subsidiary specialized in dermatology-aesthetics lasers.Conditions for the agreement
The acquisition price includes a EUR4.6 million fixed portion and a variable portion that will depend on WaveLight Aesthetic's future performances for up to EUR1.5 million. The maximum price paid by Quantel will therefore be EUR6.1 million.
Under the agreement, WaveLight AG will continue producing dermatology systems for Quantel over a 12 to 18 month period.
Strong and profitable dermatology division
Over the last financial year, ended July 31st, 2007, WaveLight Aesthetics generated EUR10 million euros in revenues.
Its product line is very complementary with Quantel Medical's with, in particular, lasers for tattoo removal, hair removal and skin resurfacing.
The combination of Quantel Medical's Dermatology's activities with those of WaveLight Aesthetic will create a Dermatology division with a very complete product offering and which could make around 20MEUR in sales in 2008. This would lead to good profitability in a very large and fast growing market.
Les titres de Quantel sont cotés sur l'Eurolist (compartiment C) d'Euronext. FR0000038242 - QUA
http://www.quantel.fr
About The Quantel Group
Founded in 1970, the QUANTEL Group has over the last 10 years established itself as one of the world's leading specialists for scientific (research laboratories, universities), industrial (micromachining, metrics, military) and medical (ophthalmology, dermatology) laser technologies.
Located in France and the US, through its Big Sky Laser subsidiary, the QUANTEL Group generated EUR2.1 million in net income in 2006 and EUR41.4 million in revenues, with 81% on international markets, split between scientific and industrial applications (51%) and medical clients (49%) for lasers.
Source: QUANTEL
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