Small appliance maker Spectrum Brands Holdings, Inc. acquired a 56% interest in Shaser Bioscience, Inc., a privately held global technological leader in aesthetic dermatological technology for home use devices. The share was acquired for $50 million in cash.
The transaction gives Spectrum Brands exclusive rights to Shaser Bioscience's technology platforms. The controlling interest in Shaser Bioscience will become part of Spectrum Brands' Remington personal care division.
The two companies have had a commercial partnership since 2008, when they jointly developed and brought to market the Remington i-Light Pro light-based hair removal system. The i-Light Pro was introduced in continental Europe in early 2010 and in the U.S. in 2011, following clearance by the U.S. Food and Drug Administration (FDA). The device is a hair removal system for home use, and uses the same Intense Pulsed Light (IPL) technology used by some dermatologists.
Spectrum Brands is creating a new consumables business within Remington, and will focus on developing a full line of aesthetic dermatology devices and companion products, using Shaser Bioscience technology, to address growing global demand for skin care solutions for conditions such as: signs of aging, acne, blemishes, and spider veins.
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