Solta Medical, Inc. (Nasdaq: SLTM), a global leader in the medical aesthetics market, today announced it has acquired privately-held CLRS Technology, a provider of personal care solutions based in Costa Mesa, California.
CLRS Technology's premier device, CLARO®, is a personal care acne system that is based on the same Intense Pulsed Light (IPL) technology used by skin experts worldwide. CLARO is the only FDA cleared over-the-counter IPL device that uses a powerful combination of both heat and light to clear skin quickly and naturally.
"The addition of the CLARO brand to the Solta Medical family further illustrates our strategy to broaden our portfolio of superior aesthetics solutions," said Stephen J. Fanning, Chairman of the Board, President and CEO of Solta Medical. "Treatment of acne with our current physician-led product, Isolaz, provides patients an effective alternative to oral drug treatments and their associated side effects. With CLARO, we will be able to provide patients access to clinically proven technology in the comfort of their own home. Our goal is to extend the success that we have demonstrated during the past year with the Thermage, Fraxel, and Isolaz brands, to the personal care space with CLARO."
Under the terms of the acquisition, Solta acquired CLRS for the payment of approximately $1.1 million of debt at the closing and potential future payments based on CLRS revenue and operating income through the end of 2011.
"We are very excited about becoming part of Solta Medical," said Richard Oberreiter, CEO and Founder of CLRS Technology. "We have spent several years developing the CLARO technology and building relationships with retailers. We believe that under the Solta Medical umbrella, CLARO can achieve its full market potential, both in the U.S. and abroad."
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