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.”