Apax Partners in talks to buy Israeli aesthetic device company Syneron Medical

Private equity firm Apax Partners is in talks to buy Israeli aesthetic device company Syneron Medical for $350-$400 million, local financial daily Calcalist today reported without citing any sources.

Both Apax and Syneron executives met in Israel last week and the talks are being managed by Barclays, the report said.

Syneron Medical develops and manufactures a range of electronic devices and products for use in nonsurgical cosmetic procedures, such as hair removal, wrinkle reduction and skin tightening.

It has three brands, Syneron, Candela and CoolTouch, and has a wide portfolio of products including UltraShape, VelaShape, GentleLase, VBeam Perfecta, PicoWay, Profound and elos Plus.

The Yokneam, Israel-based company markets its products in 86 countries through its offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and distributors worldwide.

In 2007 Syneron entered into an exclusive cooperation agreement with Procter & Gamble, where the US-based multinational consumer goods company markets and distributes its products.