Business
BeautyHealth to Acquire SkinStylus®, FDA-Cleared Microneedling Device
Acquisition is a strategic step in portfolio build-up and BeautyHealth long-term vision LONG BEACH, Calif.--(BUSINESS WIRE)-- The Beauty Health Company
About this update from Skinhealth Systems Inc.
[{"type":"text","content":"\nAcquisition is a strategic step in portfolio build-up and BeautyHealth long-term vision\n\n LONG BEACH, Calif.--(BUSINESS WIRE)--\nThe Beauty Health Company (NASDAQ: SKIN), home to flagship brand HydrafacialTM, today announced a definitive agreement to acquire SkinStylus®, an FDA-cleared microneedling device. The agreement represents a key step forward in BeautyHealth’s portfolio build-up strategy and ultimately its vision to become the world’s leading beauty, health and wellness platform, fueled by a community of engaged providers, estheticians and consumers.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230228005649/en/SkinStylus® (Photo: Business Wire)\nExpected to reach $1 billion U.S. market size by 2030, microneedling is highly complementary to a Hydrafacial treatment and one of the most common co-treatments offered by providers. Often, a Hydrafacial is recommended as a pre-treatment to microneedling to ensure the skin is prepped and in an optimal state.\n\n“Our long-held vision for BeautyHealth is to build an interconnected platform of brands and services that answer the booming consumer demand for seamless access to beauty health experiences and that support our community of estheticians and providers in delivering amazing services,” said BeautyHealth President and Chief Executive Officer Andrew Stanleick. “SkinStylus is a best-in-class microneedling device and, as an esthetician-founded brand, is grounded in real world insights from the treatment room. We are excited to roll out SkinStylus broadly to our Hydrafacial Nation.”\n\nMicroneedling is a non-surgical procedure performed by qualified providers using an array of tiny needles to create microscopic punctures in the skin to stimulate the body’s natural wound response, which is associated with the creation of new collagen and, with that, smoother, firmer and more even-toned skin.\n\n“Microneedling is an exciting advancement in aesthetics that offers a minimally invasive treatment option with little downtime to improve the overall appearance of skin. It is the most requested treatment option from the tens of thousands of providers we work with around the world,” said BeautyHealth Chief Medical Officer Dr. Jwala Karnik. “Having carefully studied the category, we believe SkinStylus is new, better and diff...