Private equity fund Apax Partners is reportedly close to finalizing its deal to pick up Israeli aesthetic device maker Syneron Medical (NSDQ:ELOS) for approximately $500 million.
Syneron and its Candela brand produce aesthetic medical equipment including body contouring, hair removal and wrinkle reduction devices.
The deal could close as soon as this week, according to an Israeli media report. The deal could end with Apax paying a 37% premium for Syneron, which has a reported market capitalization of $366 million.
Spokespersons for both companies have not yet commented on the report.
The deal was originally revealed in February, with Apax reportedly looking to pick up Syneron and its aesthetic devices for between $350 million and $400 million
Material from Reuters was used in this report.
The post Apax close to finalizing $500m Syneron buy appeared first on MassDevice.
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