NEW YORK, Sept. 19 /PRNewswire/ -- Aerolase, the manufacturer of medical aesthetic lasers, announced today that it has retained SMH Capital Inc., a subsidiary of Sanders Morris Harris Group (Nasdaq: SMHG), as its financial advisor to explore financing alternatives to fund expansion into new markets.
The additional funding will be primarily directed toward expanding the Aerolase sales channel expansion into the market of about 300,000 U.S. primary care practitioners. This physician group is actively adding medical aesthetics to their practices to serve continuing strong demand for cosmetic-rejuvenation procedures, especially from affluent baby boomers.
"This is a unique opportunity for Aerolase," said CEO Dr. Pavel Efremkin. "Many physicians are now starting their new medical aesthetic practice, and YAG laser device is a "must-have" or "first-to-buy" laser for any medical aesthetic practitioner. Our LightPod Neo, because of its unique versatility, pain-free performance and portability, is undeniably the best YAG laser for this new market. With the expansion funding we will make LightPod the best selling medical laser on the market."
"We see tremendous potential for dramatic growth as medical aesthetic practitioners learn about the benefits of the LightPod Neo," said Mitchell Stern, Managing Director of SMH Capital Inc. "Aerolase is poised to capture a significant share of the aesthetic laser market over the next six to 12 months with sufficient funds to support expansion."
Aerolase Corporation, Tarrytown, NY, is a world leader in the miniaturization of high-powered medical lasers. This core technology has been commercialized in the fields of medical & aesthetic dermatology as well as capillary blood testing and diabetes management.
The company's LightPod(R) lasers cover most aesthetic laser procedures on all skin types as well as many medical treatments. Aerolase lasers are packaged in the innovative LightPod system which utilizes air, rather than water, to continuously cool the internal laser emitter; this patented breakthrough resulted in a laser system that is portable and maintenance-free, also inherently less costly to manufacture and therefore more affordable. For more information, visit http://www.aerolase.com.
About Sanders Morris Harris Group
Sanders Morris Harris Group is a financial services company that manages $11 billion in client assets. It has two primary businesses. Asset/Wealth Management, the largest, provides highly regarded wealth advisory and asset management services to individuals and institutions. The other, Capital Markets, offers investment banking, institutional brokerage, trading, and research to a variety of institutions and middle market companies. Its corporate philosophy of investment in common aligns its interests with those of its clients. Sanders Morris Harris has over 600 employees in 21 states. Additional information is available at http://www.smhgroup.com.
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