Frequently Asked Questions for Syneron / Candela Merger
Q: How does Candela fit into Syneron’s overall strategy?
A: This merger is a defining moment in the evolution and growth of the aesthetic industry. The two companies will come together to be the global leader in the aesthetic market with the broadest product portfolio, true leadership in designing innovative and proven products, the strongest pipeline of new products, a truly global workforce, competitive manufacturing capabilities, and the financial strength required to bolster our position and succeed in the current market environment.
Candela brings a well earned reputation with experienced aesthetic physicians around the world, particularly in the core markets of dermatology and plastic surgery. This reputation is a brand that is known for efficacy and global customer service and support. Likewise, Syneron has an excellent reputation for technological innovation, customer service, a “first mover” approach such as the development and expansion of the body shaping market segment, pioneering marketing, and a large installed base of customers around the world.
The new company is able to meet the distinct needs of customers in all market segments and geographic locations with a complete portfolio of innovative, safe and effective products.
In addition, by using the technical expertise of both companies, we will be able to further improve our business processes and product innovation capabilities, developing products that are innovative, differentiated, safe and efficacious.
Q: What will be the name of the new company?
A: The new company will simply be called Syneron, and Candela will continue to exist as a wholly owned subsidiary of Syneron. We will continue to utilize both the Syneron brand and the Candela brand in the market.
Q: Who will lead the new company?
A: Mr. Louis P. Scafuri will be the Chief Executive Officer of Syneron, and Dr. Shimon Eckhouse will be its Chairman of the Board of Directors. Mr. Gerard E. Puorro, former Candela President and CEO, will join Syneron’s Board of Directors.
Candela will continue to operate independently as a wholly owned subsidiary of Syneron. The global leadership team for the new emerging company will be comprised of executives from each of the organizations.
Q: Where will the headquarters of Syneron be located?
A: The corporate headquarters of Syneron will be in Yokneam, Israel.
Q: As a customer, how does this merger benefit me?
A: By using the technical expertise of the two companies, we will be able to further improve our process and product innovation capabilities, developing products that are differentiated, safe and efficacious and which meet the distinct needs of our customers in all market segments and geographic locations.
The new company will have the best and broadest worldwide distribution and support network with sales in 86 countries and more than 60% of revenue coming from international markets.
We will also be able to offer the most comprehensive customer support programs available in the aesthetic device market. Because of the size of our portfolio, we will be able to offer the best financing options, the broadest range of marketing support, and the most efficient patient demand driving initiatives.
Lastly, because of our financial strength and financial resources, we will have a stated commitment, and plan to invest in and drive sustained market growth.
Q: Will the Syneron and Candela product lines be combined?
A: The two companies benefit from complementary product lines that together create the broadest spectrum of offerings across the largest and fastest growing segments in the aesthetic market – from hair removal to skin tightening to skin rejuvenation and body shaping. We have a uniquely complementary product portfolio with no real overlap.
Q: What are your plans for the Syneron and Candela brands?
A: We will continue to support and market both brands in the market – Syneron and Candela.
Q: Will the products be produced in the same facilities as they are today?
A: Yes. The two businesses will continue to have production presence in Wayland, MA, USA and Yokneam, Israel. The organizational resources of the two companies will better enable us to meet future development and engineering demands as we focus on new products for the largest and fastest growing industry segments, and to meet future customer needs across the globe.
Q: How will this merger affect the pipeline of new products in development?
A: The new emerging company will be the leader in research and development in the industry through our significant investment in these activities. No other company in our industry will have the depth and breadth of expertise or technology. We will continue to have R&D teams in the U.S. locations of California and Wayland, MA, and also in Yokneam, Israel. Our plan is to have coordinated activities which address existing and future market needs. The R&D teams of Syneron and Candela will cooperate and share knowledge and expertise. By using the technical expertise of both companies, we will be able to further improve our process and product innovation capabilities, developing products that are differentiated, safe and efficacious, and meet the distinct needs of our customers in all market segments and geographic locations. This rich product pipeline will be backed by leading- edge scientific and evidence-based research.
Q: How will the brands be presented in upcoming trade shows?
A: While we are maintaining two brands in the market, as soon as possible we will display both the Syneron and Candela brands and products in the same booth at most trade shows. The transition to a fully integrated tradeshow booth model is anticipated to take several months as trade show organizers need time to adjust floor plans and space commitments. In the short term however, we will have linkage between our booths and, in some cases, we will showcase both brands at each of the booths. It will be our focus to make it as easy as possible for you to get information and do business with us.
Q: Will there be changes to how I purchase products, render payments, or get technical or clinical service?
A: In most markets around the world, there will be no changes to how customers do business with us. We are extremely focused on making sure that our customers continue to receive excellent customer service and support. Customers should continue to conduct business with us in the same way as they previously have. However, customers located in Spain and Germany will experience some changes. The specific details of those changes will be communicated directly with customers in those countries.