Navigation Links
Cynosure Announces Sale of Burlington, MA Office Building
Date:12/2/2013

WESTFORD, Mass., Dec. 2, 2013 /PRNewswire/ -- Cynosure, Inc. (NASDAQ: CYNO) today 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.  After paying transactions costs, Cynosure expects proceeds of the sale to be approximately $25.1 million. In connection with the transaction, Cynosure entered into a lease agreement with the buyer to occupy the building on a rent-free basis until June 30, 2014.  

"Our sale of the Burlington building achieves a major milestone in the integration of Palomar and our transition of all personnel to Cynosure's headquarters in Westford," said Cynosure President and CEO Michael Davin. "Our Westford campus is being expanded to accommodate the Burlington workforce, and we anticipate that will be completed by the end of the second quarter 2014.  From a financial perspective, the transaction further enhances our liquidity and capital resources."

Cynosure acquired Palomar for approximately $287 million in June 2013.

About Cynosure, Inc.
Cynosure develops and markets aesthetic treatment systems that enable plastic surgeons, dermatologists and other medical practitioners to perform non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, liquefy and remove unwanted fat through laser lipolysis, reduce cellulite, treat toe fungus and ablate sweat glands.  Cynosure's product portfolio is composed of a broad range of energy sources including Alexandrite, diode, Nd: YAG, picosecond, pulse dye, and Q-switched lasers and intense pulsed light.  Cynosure sells its products globally under the Cynosure, Palomar and ConBio brand names through a direct sales force in the United States, Canada, Mexico, France, Germany, Spain, the United Kingdom, Australia, China, Japan and Korea, and through international distributors in approximately 100 other countries.  For corporate or product information, visit Cynosure's website at www.cynosure.com.

Forward-Looking Statements
Any statements in this press release relating to the sale of Cynosure's building at 15 Network Drive in Burlington, MA and the Palomar integration and employee transition constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors including potential challenges associated with the integration of Palomar, as well as other factors discussed in Cynosure's most recent Annual Report on Form 10-K and subsequently filed Quarterly Report on Form 10-Q for the third quarter of 2013, which are filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Cynosure's views as of the date of this press release. Cynosure anticipates that subsequent events and developments will cause its views to change. However, although Cynosure may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Cynosure's views as of any date subsequent to the date of this press release.

Contact:
Scott Solomon
Vice President
Sharon Merrill
617.542.5300
CYNO@investorrelations.com


'/>"/>
SOURCE Cynosure, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Cynosure Reports Third-Quarter 2013 Financial Results
2. Cynosure Completes Acquisition of Palomar Medical Technologies
3. Cynosure Added to the S&P SmallCap 600 Index
4. Cynosure to Present at UBS Global Healthcare Conference
5. Cynosure Reports First-Quarter 2013 Financial Results
6. Cynosure Announces Presentation of 16 Abstracts at 33rd ASLMS Annual Conference
7. Cynosure Reports Record Revenues for Fourth-Quarter and Full-Year 2012
8. Cynosure to Participate in Leerink Swann Global Healthcare Conference 2013
9. Cynosure to Host Fourth-Quarter 2012 Financial Results Conference Call on February 12
10. Cynosure to Present at Canaccord Genuity Medical Technology & Diagnostics Forum
11. Cynosure, Inc. Prices Public Offering of Class A Common Stock
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/22/2017)... 22, 2017 Research and Markets has ... by Drug Molecule (Biologic, Small Molecule Drugs), By Route of ... Blockers) Outlook 2022" report to their offering. ... The global psoriasis ... 2016-2022 This report provides a detailed analysis of ...
(Date:2/22/2017)... 2017  Based on its recent analysis of ... recognizes SnooZeal, Inc. with the 2017 European New ... product that intelligently addresses the root causes of ... the clinically proven continuous transmucosal electrical stimulation therapy. ... one of the most accessible anti-snoring products available ...
(Date:2/22/2017)... Feb. 22, 2017  Applied Silver, the maker of SilvaClean®, ... the company,s advisory board. Ms. Barnes is the company,s third ... engineering, legal, and healthcare experts Scott McNealy , ... , J. Tress Ritter , and Leopold Selker ... brings more than three decades of nationally recognized clinical, nursing, ...
Breaking Medicine Technology:
(Date:2/22/2017)... ... , ... Gevir, a New Zealand-based company that focuses on developing powder and ... to Amazon.com, the world’s largest online retailer. , The company was founded ... natural treatment for Shelley’s Multiple Sclerosis, which she’d been diagnosed with at 28 years ...
(Date:2/22/2017)... ... 2017 , ... South Bend’s Lunkerville, the award-winning TV series that catches real ... Water (HOW), a non-profit organization dedicated to helping military veterans relax, rehabilitate, and reintegrate ... traveling to Lake Denmark, New Jersey, to fish with war veteran Justin Vail from ...
(Date:2/22/2017)... Los Angeles, CA (PRWEB) , ... February 22, 2017 , ... ... with the recent addition of esteemed ophthalmologist, Dr. Steven H. Rauchman, practicing at ... are common in auto accidents, product liability, premise liability and other personal injury cases. ...
(Date:2/22/2017)... ... ... ANGLESTRONG , the new recovery management app with multiple innovative features ... and Google Play . Florida-based Sober Network, Inc., the premier provider of ... Angle to build ANGLESTRONG. The new recovery management app is a passion project for ...
(Date:2/22/2017)... (PRWEB) , ... February 22, 2017 , ... ... communications company, launched a new media platform connecting healthcare technology professionals and other ... be followed by a quarterly publication starting on March 1, announced Michael J. ...
Breaking Medicine News(10 mins):