TA Associates has completed a $90 million (€75 million) investment in Alma Lasers, an Israeli company that develops and manufactures lasers for aesthetic medical procedures.
The company’s products use electro-optical technology to create systems for use by plastic surgeons and dermatologists who perform non-surgical aesthetic procedures such as hair removal, skin rejuvenation and cellulite reduction.
“This sector has experienced very strong growth,” said Ajit Nedungadi, Director of TA Associates, who led the transaction from TA’s London office. “It’s been driven by increased customer interest in these types of procedures, which has been fueled by technological innovations.”
Nedungadi said the market has been growing above 20 percent annually, and has been expanding both in size and scope. Alma Lasers, which focuses on hair removal, skin tightening, acne treatment and cellulite reduction, has sales worldwide. Today the global aesthetic laser market is estimated at $1 billion globally.
The rapid global growth of medical spas has particularly helped expand the sector, helping make procedures such as hair removal more affordable for the average consumer and expanded the customer base, Nedungadi said.
The technology has also come to be used by other types of doctors, including OBGYNs and general physicians.
“The number of people doing the treatments is going up, therefore the range of treatment is going up, fueling strong growth in the device market,” Nedungadi said.
TA Associates has plenty of experience in the healthcare sector, including investments in CompBenefits Corporation, Gulf South Medical Supply, Logistics Health and Triumph Healthcare.