HAYWARD, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Thermage, Inc.
(Nasdaq: THRM), a leader in non-invasive tissue tightening, announced that,
following approval of its stockholders at a special meeting held earlier
today, it has closed the acquisition of Reliant Technologies, Inc. The
transaction brings together two of the leading brands in skin tightening and
skin resurfacing and rejuvenation.
"This is a very important milestone for Thermage, offering us the
opportunity to expand our market presence," said Stephen J. Fanning, chairman,
president and chief executive officer. "Our product offerings are
complementary and will allow us to cross-sell a more complete product line to
physicians and their patients through one of the largest direct U.S. sales
forces in the industry and an expansive international distribution network."
Under the terms of the definitive agreement, Thermage purchased Reliant
for approximately $25 million in cash, 23.6 million shares of Thermage common
stock, and the assumption of up to $7.0 million of net debt, subject to post
closing adjustments.
About Thermage, Inc.
Thermage's innovative technology provides a unique non-invasive procedure
designed to tighten and contour skin, significantly expanding the non-invasive
aesthetic applications physicians can offer to the rapidly growing
"anti-aging" market. For more information about Thermage, call 1-510-259-7117
or log on to http://www.thermage.com.
Safe Harbor
This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on management's current, preliminary expectations and are
subject to risks and uncertainties, which may cause actual results to differ
materially from the statements contained herein. Further information on
potential risk factors that could affect Thermage's business are detailed in
the Company's Form 10-Q for the quarter ended September 30, 2008, and
additional risk factors relating to the transaction discussed in this press
release will be presented in future public filings. Undue reliance should not
be placed on forward-looking statements, which speak only as of the date they
are made. Thermage undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or circumstances
after the date they were made, or to reflect the occurrence of unanticipated
events.
SOURCE Thermage, Inc.