Cutera has finalized the acquisition of Iridex' aesthetic business for approximately $5.1m.
Iridex develops and manufactures laser-based medical systems and delivery devices and provides solutions for multiple specialties, including ophthalmology, dermatology and otolaryngology.
Iridex president and CEO Dominik Beck said with the acquisition, the energies and resources of the entire organization can now be focused on the substantial and growing ophthalmology opportunity that is core to Iridex’ past and future successes.
"We intend on using that focus and all of our resources to drive growth in our core markets, where we enjoy brand leadership, by acquiring and developing additional consumable devices for use in the surgical setting and accelerating the adoption of MicroPulse technology – a new paradigm in the treatment of retinal diseases," Beck said.
Under the agreement, the parties also entered into an agreement for Iridex to supply Cutera with transitional product and service support for a time period which is not disclosed.