Israeli cosmetology company Soft wave Sources have told Globe that they are planning an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE).
Founded in 2015 at Dr. Simon Eckhouse’s Aron Medtech Ventures Incubator in Yokne’am, the company develops wrinkle ultrasonic skin treatments. Sofwave seeks to raise $ 200 million in corporate valuations and tens of millions of dollars in advance. The IPO is led by Barak Capital Underwriters.
Eckhouse founded ESC, a laser treatment company for the beauty and ophthalmology market, became Lumenis, and after leaving the company in 1999, founded the cosmetic surgery company Syneron. Lumenis sold to Baring Private Equity Asia for $ 1.2 billion in 2019, and Eckhouse sold Syneron to Apax Partners for $ 400 million in 2017. Both companies continue to operate in Israel under new ownership.
Prior to leaving Syneron, Eckhouse began investing in medical device companies, especially in Ventor, a heart valve developer acquired by Medtronic for $ 325 million. He then founded the Alon Medtech Ventures Incubator and is usually the chairman of the investing startup.
Sofwave is one of the only companies in the incubator in the field of cosmetology medicine. The company has developed a synchronous ultrasonic parallel beam technology that reduces fine lines and wrinkles, restores smooth skin characteristics and reconstructs collagen for all skin types.
Sofwave’s products have been FDA approved and are now available in the United States, and the company also has the EUCE mark. In 2019, the company raised $ 8.4 million in a funding round led by the Ofer family’s XT HighTech venture capital fund.
Israeli Business News Published by Gloves- en.globes.co.il -February 16, 2021
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Sofwave is planning TASEIPO skin treatment
https://en.globes.co.il/en/article-1001360955#utm_source=RSS Sofwave is planning TASEIPO skin treatment