Carlisle Road Based Company Acquires HOYA ConBio to Grow Market Share

Westford based Cynosure is growing again after acquiring a California based company last week.

, Cynosure announced that it acquired the assets of HOYA ConBio, a formerly owned subsidiary of the Japan-based HOYA Corporation for $24.5 million in cash.

With the addition of HOYA ConBio, currently located in Fremont, California, Cynosure can add the proprietary PhotoAcoustic energy technology to its portfolio. The PhotoAccoustic process, which reduces needed heat for lasers by using high-speed energy waves to penetrate the skin in nanoseconds, helped HOYA ConBio earn $23.9 million over the past two years.

Following the acquisition, Cynosure president and CEO Michael Davin believes that the deal will help his company prosper in its core product line.

"We believe that this acquisition will create significant new opportunities for us to grow our market share in popular aesthetic indications such as skin rejuvenation and tattoo removal, while allowing efficiencies that enable Cynosure to enhance its profitability," said Davin, who expects the purchase to add to the company’s earnings by 2012. "We also believe that the acquisition offers substantial cross-selling and marketing opportunities, creates new distribution channels, (and) provides an opportunity to expand our direct sales in certain overseas markets."

In addition to the PhotoAccoustic technology, Cynosure now also holds proprietary control over HOYA ConBio processes such as the YAG technology, a process designed to rejuvenate skin, remove tattoos, and reduce wrinkles, acne scars and vascular lesions.

The 50 employees of HOYA ConBio have been offered positions with Cynosure, which will also assist in the manufacture of components, parts and accessories of HOYA ConBio’s dental laser business for the next six months, after which the manufacturing responsibilities will return to the HOYA Corporation.