Venus Concept to acquire hair restoration business NeoGraft
Healthcare acquisition news : Venus Concept, Canada-based medical aesthetic company has agreed to acquire NeoGraft, the hair restoration business of Texas-based NeoGraft Solutions for an undisclosed price.
NeoGraft offers hair restoration technologies and topical products.
The hair restoration company had developed the NeoGraft Automated Follicular Unit Extraction (FUE) and Implantation Hair Transplant System as an alternative to traditional hair transplantation surgery.
Venus Concept says that its subscription-based business model along with its global footprint in more than 60 countries and 27 direct offices worldwide will help grow its overall enlarged business which would include NeoGraft.
Some of the medical aesthetic products of Venus Concept. Photo courtesy of Venus Concept.
Commenting on Venus Concept acquisition of NeoGraft, Domenic Serafino – Chairman and CEO of Venus Concept, said: “We are extremely pleased and excited to have reached an agreement to acquire NeoGraft, as it represents a significant milestone in our company’s history.
“We believe that NeoGraft is a perfect fit for Venus Concept and will broaden our current customer base and product portfolio. This acquisition will enable us to accelerate our growth plans for 2018 and beyond. Our differentiated subscription model and unique products position the company well to take full advantage of tailwinds in the non-invasive aesthetic market.”
Headquartered in Toronto, Venus Concept offers medical aesthetic solutions for aesthetic treatments like wrinkle reduction, circumferential fat, rhytides, cellulite, and skin tightening among others.
Glenn Normoyle – President of NeoGraft, commenting on Venus Concept acquisition of NeoGraft, said: “We are very happy to be joining the Venus Concept family. Having spent time with the Venus Concept team, it is clear there is consistency in culture and vision between the two companies and its employees.
“The depth of experience and infrastructure at Venus Concept will significantly increase the global presence of NeoGraft.”
Subject to customary closing conditions, Venus Concept acquisition of NeoGraft is anticipated to be completed in February.