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news.Thermage, a provider of non-invasive tissue tightening systems, has completed the acquisition of Reliant Technologies, a developer and marketer of non-surgical therapies for the treatment of various skin conditions under the Fraxel brand.
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Under the terms of the definitive agreement, Thermage purchased Reliant for approximately $25 million in cash, 23.6 million shares of Thermage common stock, and the assumption of up to $7 million of net debt, subject to post closing adjustments.
Stephen Fanning, chairman, president and CEO of Thermage, said: “This is a very important milestone for Thermage, offering us the opportunity to expand our market presence. Our product offerings are complementary and will allow us to cross-sell a more complete product line to physicians and their patients through one of the largest direct US sales forces in the industry and an expansive international distribution network.”