Profile: Cynosure Inc (CYNO.OQ)
11 Dec 2013
Cynosure Inc. (Cynosure), incorporated on July 10, 1991, develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive and minimally invasive procedures to remove hair rejuvenate the skin through the treatment of vascular and pigmented lesions, remove multi-colored tattoos, liquefy and remove unwanted fat through laser lypolysis, reduce cellulite and treat onychomycosis. The Company’s systems includes a range of laser and other light-based energy sources, including Alexandrite, pulse dye, Nd:Yag and diode lasers, as well as intense pulsed light. It offers single energy source systems, as well as workstations that include two or more different types of lasers or pulsed light technologies. In December 2013, the Company announced that it has sold the former Palomar Medical Technologies headquarters, a 130,000-square-foot, three-story building at 15 Network Drive in Burlington, MA, to Network Drive Owner, LLC.
In February 2011, it launched Cellulaze an aesthetic laser device for the reduction of cellulite. On February 2, 2011, it also expanded its body shaping treatment platform by acquiring all the assets of Eleme Medical, including Eleme’s non-invasive SmoothShapes XV system. On June 27, 2011, it expanded its product portfolio by acquiring all the assets of HOYA ConBio’s aesthetic laser business (ConBio) including the MedLite C6 and RevLite systems which treat wrinkles, acne scars, multi-color tattoos, vascular lesions and overall skin rejuvenation. In October 2011, it acquired worldwide exclusive rights from NuvoLase, Inc. to distribute the PinPointe FootLaser.
The Company’s systems consist of a control console and one or more handpieces. Its control consoles consist of a graphical user interface, a laser or other light source, control system software and high voltage electronics. The graphical user interface allows the practitioner to set the appropriate laser or flashlamp parameters to meet the requirements of a particular application and patient. The laser or other light source consists of electronics, a visible aiming beam, a focusing lens and a laser or flashlamp. Using the graphical user interface, the practitioner can independently adjust the system’s power level and pulse duration to optimize the desired treatment’s safety and effectiveness. The graphical user interface on its multiple energy workstations also allows the practitioner to change energy sources with the press of a button. The graphical user interfaces on its intense pulsed light systems offer practitioners a choice between using programmed preset treatment settings that address a variety of skin types and treatment options and manually adjusting the energy level and pulse duration settings. The control system software communicates the operator’s instructions from the graphical user interface to the system’s components and manages system performance and calibration.
The handpieces for its intense pulsed light systems consist of the flashlamp, a wavelength filter and, on some models, an integrated flashlamp cooling system. These handpieces weigh approximately two pounds and also are ergonomically designed to be operated with one hand. The Company’s three products, Affirm, Smartlipo and Cellulaze systems, contain consumable parts. The Affirm system contains a durable micro lens array tip, which delivers the laser energy employed that can treat an average of ten treatment areas. As of December 31, 2011, it offered three different micro lens array tips, which cover a variety of treatment areas. The Smartlipo systems contain a consumable laser fiber that delivers the laser energy directly to subcutaneous fat cells-causing them to rupture. The Smartlipo and Cellulaze systems also contain the ThermaGuide Intelligent delivery system, which allows the physician the ability to accurately monitor temperature and determine the treatment doses that provide safe and tissue tightening through tissue coagulation and maintain an even, controlled flow of laser energy. Additionally, Cellulaze contains a consumable SideLight 3DTM fiber, which delivers laser thermal energy and increases the elasticity and thickness of the skin.
The Company offers its customers SmartCool treatment cooling system, which it purchases from a third party supplier and sell as a private label product under the Cynosure SmartCool brand. The SmartCool product has nine variable settings and allows the practitioner to provide a continuous flow of chilled air before, during and after treatment to cool and comfort the patient’s skin. The SmartCool handpiece, which is designed for use with its laser systems, interlocks with the laser handpiece. In North America, its SmartCool system is generally packaged and sold with its laser aesthetic treatment systems. Outside the North America, its customers either purchase its SmartCool system when they purchase one of its aesthetic treatment systems or they purchase from a third party supplier.
The Company’s Cynergy system is used for the treatment of vascular lesions. The Cynergy system combines a pulse dye laser, which used for treating shallow vascular lesions, such as port wine birthmarks, facial veins and rosacea, and an Nd:Yag laser, which is used for treating large or deep veins, such as leg veins. The practitioner can switch between these two energy sources simply by pressing a button on the system console. In addition to the Cynergy system, each of the Company’s Apogee Elite, Acclaim 7000, and VStar systems can be used for the treatment of vascular lesions. Its Elite, Acclaim 7000, and Cynergy systems can also be used for skin rejuvenation through the treatment of shallow vascular lesions and pigmented lesions. The Accolade system is a solution for the removal of pigmented lesions. The Accolade is a high powered 755 nanometer, Q-switched Alexandrite laser.
The Company competes with Syneron Medical Ltd., Cutera, Inc., Palomar Medical Technologies, Inc., Solta Medical, Inc. and Alma Lasers, Ltd.
5 Carlisle Road
WESTFORD MA 01886