Medical Aesthetics Leader Reports Strong Year
Over Year Growth
WESTFORD, Mass., May 17, 2022
/PRNewswire/ -- Cynosure, LLC, a leader in medical aesthetics
systems and technologies, announced today a new investment of
$60 million from lead investor
Clayton, Dubilier & Rice. The new capital supports the
company's plans to continue investing ahead of strong growth to
bring innovation to the market and provide comprehensive treatment
solutions to its customers that deliver the highest clinical
efficacy for patients.
Cynosure, which develops, manufactures, and markets medical
aesthetic treatment systems and consumables for dermatologists,
plastic surgeons, medical spas, and other healthcare practitioners,
saw sales grow by over 45% in 2021 and over 30% year-over-year in
the first quarter of 2022, driven by strong growth across all
geographies.
"We are pleased that CD&R continues to share our excitement
about Cynosure's market, growth trajectory, and potential to
accelerate," said Todd Tillemans,
Cynosure CEO. "This investment is a strong endorsement that
Cynosure is delivering on its mission to be the leader in
aesthetics and to help patients across the globe to unleash their
beautiful energy from within."
"We have built at Cynosure a diverse and talented team, and I
believe the company's strong sales performance is the direct result
of the team's exceptional execution against high demand in the
market," said Sandi Peterson,
CD&R Partner and Chairman of Cynosure's Board of Directors. "We
are excited to continue our partnership with the team to support
their efforts to drive continued new and future breakthrough
product innovation and deliver the best service and solutions to
Cynosure's valued customers."
"Medical aesthetics is a large market with strong macro
tailwinds that have only gotten stronger across the globe since our
initial investment," said Derek
Strum, CD&R Partner. "We believe Cynosure is well
positioned to build on its momentum and capture both organic and
inorganic growth opportunities."
CD&R initially invested in Cynosure in December 2019, facilitating the carve out of the
company from Hologic.
About Cynosure
Cynosure develops, manufactures
and markets aesthetic treatment systems that enable plastic
surgeons, dermatologists and other medical practitioners to perform
non-invasive and minimally invasive procedures to remove hair,
treat vascular and benign pigmented lesions, remove multi-colored
tattoos, revitalize the skin, reduce fat through laser lipolysis,
reduce cellulite, clear nails infected by toe fungus, ablate sweat
glands and improve women's health. Cynosure's product portfolio is
composed of a broad range of energy sources including Alexandrite,
diode, Nd: YAG, picosecond, pulse dye, Q-switched lasers, intense
pulsed light and RF technology. Cynosure sells its products
globally under the Cynosure, Palomar, ConBio and Ellman brand names
through a direct sales force in the
United States, Canada,
France, Morocco, Germany, Spain, the United
Kingdom, Australia,
China, Japan and Korea, and through international
distributors in approximately 130 other countries. For corporate or
product information, visit Cynosure's website at
www.cynosure.com.
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a
strategy predicated on building stronger, more profitable
businesses primarily in five industry sectors, including
Industrials, Healthcare, Consumer, Technology and Financial
Services. Since inception, CD&R has managed the investment of
more than $40 billion in over 100
companies with an aggregate transaction value of more than
$175 billion. The Firm has offices in
New York and London with a team of 90 investment
professionals and 9 full time Operating Partners and 33 Advisors to
CD&R Funds. For more information, please
visit www.cdr-inc.com.
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SOURCE Clayton, Dubilier & Rice