January 2015
PhotoMedex
Canaccord Genuity acts as Financial Advisor to PhotoMedex, Inc. on its sale of LCA-Vision, Inc.
On February 2, 2015, PhotoMedex, Inc. (NasdaqGS and TASE: PHMD) announced the sale of its LCA-Vision subsidary to Vision Acquisition, LLC for $40 million. PhotoMedex intends to use the proceeds from this transaction to pay down portions of its outstanding revolving line of credit and term loan, while continuing to pursue a refinancing of the Company’s secured debt.
Canaccord Genuity served as exclusive financial advisor to PhotoMedex in connection with the transaction.
LCA-Vision operates 59 LasikPlus® vision centers in the U.S., including 51 full-service LasikPlus fixed-site laser vision correction centers and eight pre- and post-operative LasikPlus® satellite centers.
PhotoMedex is a global skin health company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers. The company provides proprietary products and services that address skin diseases and conditions including psoriasis, vitiligo, acne, actinic keratosis and photo damage. Since its December 2011 merger with Radiancy Inc., PhotoMedex has added a range of home-use devices under the no!no! brand for various indications including hair removal, acne treatment and skin rejuvenation. The company also offers a professional product line for acne clearance, skin tightening, psoriasis care and hair removal sold to physician clinics and spas.
