Clayton, Dubilier & Rice To Acquire Cynosure From Hologic - Quick Facts

(RTTNews) - Private investment firm Clayton, Dubilier & Rice or CD&R said it has signed an agreement under which CD&R-managed funds will acquire Cynosure, LLC from Hologic, Inc. (HOLX). Cynosure is a provider of medical aesthetics systems and technologies.

Cynosure manufactures, and markets medical aesthetic treatment systems for dermatologists, plastic surgeons, medical spas, and other healthcare practitioners. The company's product portfolio spans major categories, including skin revitalization, body contouring, hair removal, and women's health.

Cynosure sells its products through a combination of direct sales and distributors in more than 130 countries and supports its provider partners with technical, clinical, and support services.

CD&R said it expects the transaction to close around the end of calendar 2019. Upon the closing, CD&R Partner Sandi Peterson, former Group Worldwide Chairman of Johnson & Johnson, will become Chairman of Cynosure's board of directors.

"The market for medical aesthetic devices is large and fragmented, with an attractive long-term outlook supported by strong demographic tailwinds, and Cynosure's business model and channels align well with our extensive experience with similarly positioned consumer-medical device healthcare companies," said Sandi Peterson.