LES ULIS, France, September 3 /PRNewswire-FirstCall/ --
- QUANTEL has Entered Into the Final Phase of the Negotiations in View of Acquiring the Company WaveLight Aesthetic GmbH
A strong complementarity
This company, a subsidiary of the German company WaveLight AG, is specialized in Dermatology/Aesthetic lasers. It is based in Germany, in Erlangen, near Nuremberg and its revenues are estimated of approx. 10MEUR for the fiscal year 2006/2007 ended July 31, 2007.
Its product line is very complementary with Quantel Medical's with, in particular, lasers for tattoo removal, hair removal and skin resurfacing.
A powerful and profitable Dermatology division
The combination of Quantel Medical's Dermatology's activities with those of WaveLight Aesthetic will create a Dermatology division with a very complete product offering and which could make more than 20MEUR in sales in 2008. This would lead to good profitability in a very large and fast growing market.
Achieving the objectives set by WaveLight Aesthetic's management, who will remain in place, should be immediately accretive to the Group's profits.
Both parties intend to sign final agreements before the end of September 2007.
The terms and conditions of the financing for this acquisition are still being negotiated. They will be published soon.
ABOUT THE QUANTEL GROUP
Founded in 1970, the QUANTEL Group has over the last 10 years established itself as one of the world's leading specialists for scientific (research laboratories, universities), industrial (micromachining, metrics, military) and medical (ophthalmology, dermatology) laser technologies.
Located in France and the US, through its Big Sky Laser subsidiary, the QUANTEL Group generated EUR2.1 million in net income in 2006 and EUR41.4 million in revenues, with 81% on international markets, split between scientific and industrial applications (51%) and medical clients (49%) for lasers.
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