Alma, a Sisram Medical company, is establishing a direct operation in China after completing the acquisition of PhotonMed
HONG KONG, July 3, 2023 /PRNewswire/ -- Alma, the world leader and innovator in providing energy-based medical and aesthetic solutions and a wholly-owned company by Sisram Medical (1696.HK), announced today that it has completed the acquisition of PhotonMed International Ltd ("PhotonMed"), the leading Chinese distributor of energy-based devices, and is establishing a direct operation in mainland China.
According to the announcement released in March this year, Alma paid 270 million RMB (approximately $40 million USD) to secure a 60% stake in the business, establishing itself as the major shareholder in the new joint venture formed by the companies. Based on PhotonMed's projections, revenue is expected to reach 500 million RMB in the next year.
Since 2003, when Alma first entered the Chinese market, PhotonMed has been an important long-term strategic partner of Alma, distributing Alma's flagship energy-based devices through the "Feidun" channel. This enduring strategic partnership has empowered Alma to expand its market presence and influence, establishing itself as a pioneer in the Chinese market for energy-based devices. PhontonMed has held a strong position and significant presence in mainland China for many years, including 14 offices all over China. The new subsidiary established in mainland China is the 10th direct branch of Alma, joining the company's presence across the globe and its direct operations in UK, UAE, India, US, Australia, Israel, South Korea, Hong Kong S.A.R and Germany.
This acquisition represents a significant milestone in Sisram's direct sales expansion and consumer-centric strategy, aimed at enhancing its market positioning and strengthening brand recognition among consumers. By establishing a direct presence and transitioning from a distribution model, the company not only brings itself closer to its clients but also consolidates its leadership position within the industry.
Mr. Lior Dayan, CEO of Alma and Sisram, said, "PhotonMed's strong market presence and direct sales channels will enable us to be closer to our valued Chinese customers and reinforce our brand recognition in the region."
"The establishment of direct operation in the mainland China following the recent launch of our new subsidiaries in the UK and UAE, perfectly aligns with Alma's commitment to delivering innovative and customer-focused solutions that meet the evolving needs of our global customer base" he added.
"We are happy to become part of the Sisram family and look forward to contributing to further strengthening Sisram's leadership position through our strong market presence and consumer education," stated Ms. Debbie Zhou, CEO of PhotonMed.
She continued, "By leveraging the exchange of technological innovations within Alma and fostering synergistic interactions among Sisram's diverse business units, we will accelerate the synchronous deployment of Alma's latest technologies in China and enhance the responsiveness of our customer technical services. Besides, we remain committed to exploring and realizing our collective vision of establishing a comprehensive wellness ecosystem focused on meeting the increasing demand for light-based anti-aging medical aesthetic solutions."
About Sisram Medical Ltd
Sisram Medical Ltd (1696.HK) is a global consumer wellness group, featuring a first-of-its-kind synergistic ecosystem of business building blocks and consumer-focused branding, ranging from Energy Based Devices, injectables, aesthetics and digital dentistry, personal care and more. The company is majority-owned by Fosun Pharma, one of China's leading healthcare groups. On September 19, 2017, Sisram Medical went public, becoming the first Israeli company ever to trade on the Main Board of the Hong Kong Exchange.
Alma is a world-leading innovator and provider in the aesthetic and surgical markets, offering holistic cutting-edge solutions such as Laser, Light-based RF, Plasma, and Ultrasound technologies. We enable practitioners to deliver safe, effective and life-transforming treatments to their patients, utilizing state-of-the-art and clinically proven solutions. For more than two decades, Alma's multiple award-winning products have established a new benchmark in the medical aesthetic industry, both in terms of clinical excellence and innovative breakthrough.
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SOURCE Sisram Medical Ltd
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