Why DS Healthcare was so eager to purchase Radiancy from PhotoMedex
In an attempt to expand and strengthen its technological platform, geographic reach, and go-to-market channels, DS Healthcare Group, Inc. announced its agreement to acquire leading developer of consumer medical devices Radiancy, Inc. from PhotoMedex Inc. for $48 million.
Pompano, Fla.-based DS Healthare will also purchase the Neova dermatological products business in a transaction structured in two reverse triangular mergers, with a non-dilutive provision.
RELATED TOPIC: 4 ways to transform the European medical device supply chain
Meanwhile, PhotoMedex CEO Dolev Rafaeli believes the agreement provides an opportunity for the company to recoup significant value from its operating assets within the next three years.
Each company’s board of directors voted unanimously in favor of the transaction, although it still requires regulatory and shareholder approval.
RELATED TOPIC: Top 10 healthcare supply chain rankings
Holders of approximately 24 percent of the common stock of DS Healthcare and approximately 17 percent of the common stock of PhotoMedex have agreed to vote their shares in favor of the merger, which is currently expected to close in the second quarter of 2016.
These valuable assets, combined with DS Healthcare’s innovative research and development platform, will form a global company with a comprehensive product portfolio of both medical devices and topical formulations, which are anticipated to bring rapid revenue growth.
RELATED TOPIC: How Pharma Supply Chains Need to Change for the Future
“I believe that this transformative acquisition creates one powerfully innovative company with unparalleled capabilities and industry leading technologies,” said DS Healthcare CEO Renee Barch-Niles. “The combined scope and scale make us a more strategic business partner to our customers.
The new infrastructure has an ideal fit with DS Healthcare’s disruptive product development expertise and adds another dimension with breakthrough proprietary and patented phototherapy expertise which includes LHE (Light and Heat Energy) and Thermicon technology. Existing and new customers will have immediate access to this expansive, high-performance infrastructure.
Dexcom: changing the lives of people with type 1 diabetes
It is estimated that 9.3% of adults around the world are living with type 1 diabetes, which amounts to a total of 463 million people. A further 1.1 million children and adolescents under the age of 20 are living with the condition.
Unlike the more prevalent type 2 diabetes, where the body still produces insulin and symptoms develop slowly, people with type 1 diabetes need regular insulin injections or pumps, and must monitor their sugar levels frequently.
In recent years a number of remote glucose monitoring systems have become available that patients can use at home. These work with a sensor, usually placed under the skin, that measures glucose levels every few minutes. This information is then transmitted wirelessly to a device like a smartphone or tablet, which can then be shared with their clinician.
British actress Nina Wadia's son Aidan, 14, has type 1 diabetes, and has been managing his condition using Dexcom, a glucose monitoring system used by patients all over the world. Here Wadia explains how Dexcom has improved their lives.
As a parent of someone with type 1 diabetes, what is your day-to-day life like?
Being able to take a breath, think and pivot constantly without getting frustrated becomes an essential mindset because sometimes it feels like each day is determined to be different from the day before. Whatever worked yesterday is going to misfire today.
Which areas of yours and Aidan’s life are most impacted by diabetes?
The one thing that you have to fight hard to reclaim is spontaneity, especially when it comes to food and exercise. It’s only when this is taken do you realise how essential each one is. You can be flexible and there are no real limits, but only in the sense that a great athlete can be flexible without limits because they’ve trained super hard to be that way. So we’ve all had to become athletes when it comes to being spontaneous.
How has Dexcom helped you and Aidan?
Dexcom has brought future science fiction to real life today. The continuous glucose monitoring system is tiny, sits discreetly on his body and gives him a ten-day breather between sensor changes, so it's goodbye finger-pricking seven times daily.
Dexcom is totally active at a grass roots level and for Diabetes Awareness has pledged to donate £2,000 if #DexcomDiabetesStories and/or #DexcomWarriorStories is shared 200 times! I’ll be sharing more on social media and would love to hear how other families are winning their fights.
Maybe most importantly Dexcom is trying to introduce a reimbursement programme for type 1 diabetes patients which will give greater access to modern, life changing hi-tech. I want to spread the word on the importance of accessing it through this campaign.
If you compared your life today with how it was before Aidan was using Dexcom, what has changed?
It's always working, which lets him take his mind off diabetes for longer stretches. It also lets me get off his back. We both receive alerts so I no longer have to pester him by asking him what his number is, and especially importantly, I don’t have to wake him at night to prick his finger if I’m worried. Dexcom gave us back our sleep!