Radiancy Ltd. today announced that it has signed a contract with Max Exchange Corporation, a subsidiary of Kelti International Co. Ltd. of Taiwan, a distributor of cosmetic and body care products for salons. Under the contract, Max Exchange will market 3,000 Radiancy Facial Toning Devices in Taiwan. Max Exchange will buy more than $2 million worth of Radiancy Facial Toning Devices during the first year.
Radiancy president and CEO Dr. Dolev Rafaeli said, “We predict that the contract with Max Exchange will rouse interest in our product across the Asian beauty care market.”
The contract includes a second stage, in which Max Exchange will support Radiancy’s development of another laser-based aesthetic device, scheduled for launch during the fourth quarter of 2006.
The Radiancy Facial Toning Device uses light rays at focused wavelengths to cause minor damage to collagen in the skin, thereby encouraging rejuvenation to improve facial texture and reduce wrinkles. The company specializes in combining light and energy for depilation and treating skin problems.
Radiancy, a privately owned company, has four products with US Food and Drug Administration (FDA) approval that it markets worldwide. The company’s sales are not known for certain, although it is known to have had $21.6 million in sales in 2003, and quarterly sales in 2005 were estimated at $4.3 million (approximately $20 million a year). The company has developed and launched additional products since then.
Radiancy is a competitor of Israeli laser-based aesthetic device companies Lumenis Ltd. (Pink Sheets:LUME.PK), Syneron Medical Ltd. (Nasdaq: ELOS) and Alma Lasers Ltd.. Radiancy was founded by Teuza - A Fairchild Technology Venture Ltd. (TASE:TUZA) and serial entrepreneurs Lewis Pell and Shlomo Ben-Haim. The company has 100 employees.
Published by Globes [online], Israel business news - www.globes.co.il - on June 26, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006