Lou Scafuri, Chief Executive Officer of Syneron, commented, “We are very pleased to successfully complete the merger with Candela, representing the execution of our strategy to expand our product portfolio with synergistic and innovative technologies. The combination of Candela and Syneron creates the largest aesthetic medical device company, with an unparalleled global distribution footprint and a balanced mix of core and non-core physician customers that vastly enhances our competitive position. We believe there is tremendous opportunity to drive long-term growth and market leadership over the next several years.”

Scafuri continued, “We are fortunate to have Gerard E. Puorro, Chief Executive Officer of Candela join our Board of Directors and to have other key executives from Candela join our management team as we collaboratively work to position Syneron as the global leader in the aesthetic device sector.”

Fabian Tenenbaum, Syneron’s Chief Financial Officer, noted, “As we enter the initial post-merger period we will focus on achieving cost savings through synergies and reduced operating expenses at both companies. We believe these cost saving programs, which are already in place, will position the company to be profitable and the transaction to be accretive to earnings as the global economic environment strengthens. We are especially pleased with the enhancement the merger provides to our business model, where we expect to increase recurring revenue as we grow sales derived from consumables and ongoing services. With no debt and a robust cash position, we have significant financial strength that advantageously positions us to continue investing in our long-term growth.”

Syneron will issue approximately 6.7 million shares to acquire Candela. Upon completion of the transaction, Syneron shareholders will own approximately 80 percent of the combined company and Candela shareholders will own approximately 20 percent.

Syneron will maintain its corporate headquarters in Israel and North American office in Irvine, CA. Candela will continue to operate as a wholly-owned subsidiary of Syneron and maintain its offices in Wayland, MA, as well as subsidiary operations in Australia, France, Germany, Italy, Japan, Portugal, Spain and the United Kingdom. Candela has applied to delist its shares from NASDAQ.

Advisors

In connection with the transaction, Leerink Swann LLC is acting as exclusive financial advisor to Syneron, with Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. and Morrison & Foerster LLP serving as its legal counsel. Houlihan Lokey is acting as exclusive financial advisor to Candela, and Goodwin Procter LLP as legal counsel.

About Syneron Medical Ltd.

Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company’s technology enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite.

Syneron Contacts:
Fabian Tenenbaum
Chief Financial Officer
+ 972 73 244 2283

Judith Kleinman
VP Investor Relations
+972 54 646 1688

Eamonn Hobbs

Hobbs has more than 25 years experience in interventional radiology, interventional cardiology and the gastroenterology medical device industry. He is a bio-medical engineer, with a Bachelor of Sciences in Plastics Engineering with a Biomaterials emphasis from University of Massachusetts, Lowell. Mr. Hobbs started his career at Cook Incorporated. From 1983 to 1985, he was President and CEO, and Chairman of the Board of Hobbs Medical Inc., a medical device firm focused on interventional devices for gastroenterologists. He later served as a Vice President and Senior Vice-President of E-Z-EM, with operational responsibility for what would become AngioDynamics. Mr. Hobbs is also a member of the Board of Directors for the Society of Interventional Radiology Foundation. In 2005 he was granted an Honorary Fellowship from by the Society of Interventional Radiology and is the only member of the medical device industry to serve on the SIR strategic planning committee. He joined the Medical Device Manufacturers Association Board in 2005.

Joe Kiani

Joe E. Kiani is the founder, CEO and Chairman of the Board of Masimo Corporation. Mr. Kiani has held these positions since Masimo’s inception in 1989. Mr. Kiani is an inventor on more than 50 patents related to signal processing, sensors, and patient monitoring, including patents for the invention of motion and low-perfusion tolerant pulse oximetry. Prior to founding Masimo Corporation, Mr. Kiani served as regional technical manager for Anthem Electronics, and field applications engineer for Bell Industries, which distributed advanced semiconductor components. He serves on the Board of SABA, a publicly traded software company focused on Human Capital Development and Management solutions, Orange County Section of March of Dimes, and the Medical Device Manufacturers Association (MDMA). Mr. Kiani has a B.S.E.E. degree and an M.S.E.E. degree from San Diego State University.

Relievant Medsystems Inc., a California-based medical devices company, has raised $20 million in venture funding from investors led by Morgenthaler Ventures, which has an office in Boston.

The funding is a Series C round that also included Emergent Medical Partners, Onset Ventures and Canaan Partners, which has a location in Westport, Conn. Relievant, which makes medical devices to treat chronic back pain, has previously raised $9 million in funding. Morgenthaler partner Hank Plain will join Relievant’s board of directors.

Natus acquired Hawaii Medical for a cash price of $2.9 million, with the potential for additional consideration depending upon the achievement of certain revenue targets. Hawaii Medical reported revenue of approximately $3.2 million in the twelve months ended June 30, 2009, selling substantially all of their products through a single national distributor in North America. Natus expects to transition those sales to its existing newborn-care direct sales force during the third quarter of 2009 and launch these products internationally in the fourth quarter.

Jim Hawkins, President and Chief Executive Officer of Natus commented, “Hawaii Medical has created a successful market leading brand in the newborn care market through the development of innovative products that meet the demanding needs of clinicians in the NICU and nursery. We plan to integrate and transition production of Hawaii Medical products into our Olympic Medical facility in Seattle during our third quarter, and expect the acquisition to be accretive to earnings per share in the first full quarter of ownership.”

“I am pleased to announce that Hawaii Medical founder Read McCarty will stay on with Natus in a consulting role and concentrate on continuing to develop innovative products for the newborn care market. Prior to starting Hawaii Medical, Mr. McCarty founded Children Medical Ventures that is currently owned by Phillips Medical,” added Hawkins.

Tom Burns

Tegra Medical
Vice President, Business Development

Tom joined Tegra Medical in 2008. He has had a long and varied career in the medical device industry and contract manufacturing.

Most recently, Tom was Vice President Sales & Marketing at Web Industries, a custom converter serving the medical and aerospace markets. Prior to that, he was with Accellent in varying capacities for nine years, holding the position of Vice President Sales & Marketing, Orthopaedic Division, for the last five years.

Accellent is a leading supplier of manufacturing services to the medical device industry. For the first fifteen years of his career, Tom held various sales and marketing jobs for several leaders in the medical device industry: Johnson & Johnson, Baxter Healthcare, and Genzyme Bio-Surgery.

He began his career with Whitehall Laboratories. Tom graduated with honors from Northeastern University with a B.S. in Marketing.

Tom Barrett

Keystone Dental

Senior Vice President of Manufacturing

Before he joined Keystone Dental, Tom held the position of Senior Vice President of Operations for Orthopedics and Endoscopy at Accelent Corporation. He also worked for Stryker Corporation for thirteen years, holding positions of increasing responsibility, including Vice President of Operations.

Tom has a degree in Mechanical Engineering from Union College, Schenectady, NY, and an MBA from Harvard Business School, Cambridge, MA.

Tegra Medical Unveils GENESIS Tech Center to Reduce Time to Market

Tegra Medical announced the formal opening of the GENESIS Tech Center (GTC), an 18,000 sq. ft. of refurbished space at Tegra’s new headquarters in Franklin, MA.    The GTC will address the medical device industry’s need for speed,  the GTC will be focused exclusively on assisting customers with their product development needs, specifically: inventory of commonly used raw materials for minimally invasive surgical and interventional products, design for manufacturability, prototyping and pilot production. Within the GENESIS Tech Center, there are three distinct offerings:

• Quick Wire & Tube: Inventory of the most commonly used wire and hypodermic tubing. Secondary processes are available with shipment in 3 days or less typically.
• Rapid Response Operation: Component and assembly fabrication in less than 2 weeks, just days in many cases, using laser processing, EDM, and a full assortment of conventional and CNC machining.
• Engineered Solutions: A team of experienced manufacturing engineers and project managers to tackle tough manufacturing challenges through DFM and innovative process development.

Tom Burns

“The GENESIS Tech Center is the answer to feedback we’ve heard consistently over the years,” said Tom Burns, V.P. Business Development. “Lots of suppliers talk about supporting product launches, but Tegra Medical is backing it up with some of our best talent, significant infrastructure and a culture intent upon solving customer problems fast. The GTC will be a stand-alone entity to avoid the conflicts inherent in trying to share resources with regular production operations.”

Tegra serves the following markets:

Orthopaedics

• Arthroscopic drivers
• Shavers
• Cannulae
• Burrs
• Stylets
• Knot pushers
• Spinal minimally invasive surgery instruments
• Interventional spine accessories
• K wires

Minimally Invasive Surgery

• Breast Biopsy systems
• Bariatric surgery
• Laparoscopic devices
• Endoscopic devices

Interventional Therapies

• Suturing device components
• Clip applier components
• Guide wires
• Introducers
• Mandrels

Drug Delivery

• Diabetes therapy
• Pain management
• Huber needles
• Epidural needles
• Spinal needles

Other Medical Specialties

• Ophthalmology needles
• Dental instruments