PhotoMedex Inc/ Radiancy Inc Merger

PhotoMedex Inc, a producer of laser, LED light systems and skin care products for dermatological applications, and leading aesthetic and dermatological device manufacturer, Radiancy Inc, have merged, with Radiancy becoming a majority-owned subsidiary. Founded in 1998, Radiancy Inc is a leading developer, manufacturer and seller of home-use and professional aesthetic and dermatological use devices under its proprietary brand, no!no!, for various indications including hair removal, acne treatment and skin rejuvenation (which addresses acne clearance, skin tightening, psoriasis care and hair removal ).

Many of Radiancy’s products are sold to physician clinics and spas.Radiancy’s products are supported by two core proprietary technologies known as LHE (Light Heat Technology) and Thermiconcost performance. LHE combines allows very large treatment spot sizes with less discomfort without the requirement of skin cooling.

Fahn Kanne & Co. Grant Thornton Israel is one of the six leading accounting firms in Israel and assisted in the transaction providing PhotoMedex Inc with a highly experienced team led by Ilanit Halperin (pictured left) partner in charge for the technology industry practice, and assisted by Nir Yenni (pictured left), our firm’s new audit partner.

Halperin commented: “Our firm has a long-term relationship with the Radiancy group, being the independent public accountants firm since 2005, of a successful private company. It is always a challenge to lead a cultural change where companies transform from private to public.  Meeting tight deadlines of issuing consolidated financial statements was certainly a foremost challenge during the process. Countless technical skills were demanded, especially when dealing with technical issues which derived from the reverse merger acquisition. Working together with the company as a team, unleashing their potential for growth, was a long and challenging journey on the road to success.”