Alphaeon Corp has closed its buy of Clarion Medical Technologies Inc, a provider of medical and aesthetic equipment and consumables based in Cambridge, Ontario. The deal’s value, which was not previously disclosed, was $55 million in cash and equity plus performance-based earnouts. Alphaeon, a lifestyle healthcare business established in 2013 by U.S. growth equity firm Strathspey Crown Holdings, said the acquisition of Clarion will expand its global position. The company has its headquarters in Irvine, California.
ALPHAEON Completes Acquisition of Clarion Medical Technologies for $55 Million
IRVINE, Calif., Dec. 5, 2014 /PRNewswire/ — ALPHAEON® Corporation, a subsidiary of Strathspey Crown Holdings LLC, announced today that it has acquired Clarion Medical Technologies® Inc., a leading provider of medical and aesthetic equipment and consumables in Canada for $55 million in a combination of cash and equity plus performance-based earnouts. Clarion has more than 100 employees, 36 sales representatives and over 40 product licenses. The acquisition expands ALPHAEON’s global position. ALPHAEON believes that combining its unique platforms, including ShoutMD™, with the Clarion product offering will increase connectivity with physicians and could expand the market potential.
“We are excited to have Clarion join ALPHAEON,” said Robert E. Grant, CEO of ALPHAEON. “We view Clarion as a leading provider of lifestyle healthcare products in Canada and are thrilled to combine their products and experience with our platform.”
“In ALPHAEON, we have found a company whose values and approach to working with physicians and clinics aligns with ours,” said Dan Webb, Founder and Chairman of Clarion. “We look forward to operating within the ALPHAEON platform.”
About ALPHAEON Corporation
ALPHAEON Corporation is a lifestyle healthcare company committed to working with board-certified physicians to provide innovative products and services that promote patient wellness, beauty and performance. For more information, please visit www.alphaeon.com.
About Strathspey Crown
Strathspey Crown is a growth equity firm specializing in lifestyle healthcare. The firm’s investors include board certified physician specialists across key medical specialties, including plastic surgery, ophthalmology, dermatology, dentistry and orthopedics. Strathspey Crown is focused on working with its physician investors to bring to market innovative technologies and services in the self-pay sector of the lifestyle healthcare market. For more information, please visit www.strathspeycrown.com.
About Clarion Medical Technologies Inc.
Formerly known as Coherent-AMT, Clarion Medical Technologies Inc. is a medical distributor of innovative technology solutions, operating in Canada since 1989. Over that time, Clarion has strived to provide Canadian hospitals and private practices with best-in-class products, comprehensive education and business building programs and with exceptional technical support. For more information, please visit www.clarionmedical.com.
Jenna Mons, Vice President of Marketing and Communications
Stef Dietrich, Director of Marketing
Tel: 519 620 3900 extension 1253
ALPHAEON® is a registered trademark of Strathspey Crown, LLC
ShoutMD™ is a registered trademark of Strathspey Crown, LLC
Clarion Medical Technologies® is a registered trademark of Clarion Medical Technologies Inc.
SOURCE ALPHAEON Corporation
Photo courtesy of Alphaeon Corp