CYNOSURE, INC.

CYNOSURE, INC.

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Company Overview
Cynosure, Inc. is a leading developer and manufacturer of a broad array of light-based aesthetic and medical treatment systems in the United States. The company designs, manufactures and markets aesthetic and medical laser products which are used to perform non-invasive aesthetic procedures. It was incorporated in 1991. The company’s corporate headquarters is located in Westford, Massachusetts in the United States.
Cynosure makes laser and pulsed-light devices to perform non-invasive procedures to remove hair, treat vascular lesions, rejuvenate skin through the treatment of shallow vascular lesions and pigmented lesions, temporarily reduce the appearance of cellulite, treat wrinkles, skin texture, skin discoloration and skin tightening, and to perform minimally invasive procedures for LaserBodySculpting and for the removal of unwanted fat. The company’s products and systems are marketed to the dermatology, plastic surgery and general medical markets under such names as Affirm, Apogee Elite, TriActive, Cynergy, and Smartlipo. Its customers include doctors and health spa owners and are served by direct sales in North America, Europe, Japan and China and through international distributors in 51 other countries.
The company aims to help physicians and aesthetic business owners capitalize on the unique and growing opportunities in the aesthetic laser market with its family of products, technology and support services.
Business Summary
Cynosure, Inc. (Cynosure) develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive procedures to remove hair, treat vascular lesions, rejuvenate skin through the treatment of shallow vascular lesions and pigmented lesions, as well as multi-colored tattoos, temporarily reduce the appearance of cellulite, treat wrinkles, skin texture, skin discoloration and skin tightening, and to perform minimally invasive procedures for LaserBodySculpting for the removal of unwanted fat. The Company’s systems incorporate 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. The Company sells its products through a direct sales force in North America, France, Spain, the United Kingdom, Germany, Korea, China and Japan and through international distributors in 71 other countries.
Description and history
Cynosure, Inc. (Cynosure), incorporated in July 1991, develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive procedures to remove hair, treat vascular lesions, rejuvenate skin through the treatment of shallow vascular lesions and pigmented lesions, as well as multi-colored tattoos, temporarily reduce the appearance of cellulite, treat wrinkles, skin texture, skin discoloration and skin tightening, and to perform minimally invasive procedures for LaserBodySculpting for the removal of unwanted fat. The Company’s systems incorporate 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. The Company sells its products through a direct sales force in North America, France, Spain, the United Kingdom, Germany, Korea, China and Japan and through international distributors in 71 other countries. As of December 31, 2009, it had sold more than 9,600 aesthetic treatment systems around the world.

The Company’s systems consist of a control console and one or more handpieces. Its control consoles are each comprised 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 our intense pulsed light systems offer practitioners a choice between using programmed preset treatment settings that address a variety of skin types and treatment options or 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.

Treatment of Vascular Lesions

The Company’s Cynergy system is used for the treatment of vascular lesions. The Cynergy system combines a pulse dye laser, which is suited for treating shallow vascular lesions, such as port wine birthmarks, facial veins and rosacea, and an Nd:Yag laser, which is suited for treating large or deep veins, such as leg veins.

Affirm and SmartSkin

The Company’s Affirm and SmartSkin workstations provide a non-ablative and micro-ablative treatment approach for wrinkles, skin texture, skin discoloration and skin tightening through tissue coagulation. The Affirm system is a non ablative micro-rejuvenation system, which included the Company’s patent pending mid-infrared Combined Apex Pulse (TM) (CAP), delivery system and Xenon Pulsed Light, (XPL), technology in one system. The Company’s CAP technology stimulates collagen production throughout the entire treatment area. It remodels collagen through the papillary dermis to promote collagen production and skin tightening through precise thermal manipulation of the epidermal and dermal tissue. The laser energy is delivered through a durable and disposable tip that can treat an average of 10 treatment areas.

Skin Rejuvenation

Skin rejuvenation involves the treatment of shallow vascular lesions and pigmented lesions to rejuvenate the skin’s appearance. In a skin rejuvenation procedure, the practitioner applies the system handpiece to the target area and delivers laser or pulsed light energy. The energy destroys the shallow vascular lesions and pigmented lesions and rejuvenates the skin’s appearance without damage to the treated or surrounding area through the improvement in skin texture and reduction or elimination of skin irregularities. Cooling is generally not required. Patients typically receive between 4 to 6 treatments of approximately 30 minutes each. Treatments are spaced two to four weeks apart. Each of its Elite, Acclaim 7000 and Cynergy systems can be used for skin rejuvenation through the treatment of shallow vascular lesions and pigmented lesions.

Temporary Reduction of Appearance of Cellulite

Cynosure s TriActive LaserDermology system is its flagship product for temporarily reducing the appearance of cellulite. The TriActive system contains six low-energy diode lasers, mechanical massage and suction features and localized cooling. The Company sells its aesthetic treatment systems to the physician customer base of dermatologists and plastic surgeons, as well as to the increasing number of non-traditional physician customers who are providing aesthetic services using laser and light-based technology.

The Company competes with Syneron Medical Ltd., Cutera, Inc., Palomar Medical Technologies,Inc., Solta Medical, Inc. and Alma Lasers, Ltd.

Business Line
Designs, manufactures and markets aesthetic and medical laser products which are used to perform non-invasive aesthetic procedures
Subsidiary
CYNOSURE FRANCE
Advisor
ERNST & YOUNG LLP
IPO date
12/9/2005
US SIC Code
3845
Company Address
5, Carlisle Road

City province or state postal code
01886, WESTFORD, MA
Phone: +1 978 256 4200
Fax: +1 978 256 6556
Country address: UNITED STATES OF AMERICA
Website url: www.cynosure.com