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TWST: What is Candela?
Mr. Broyer: Candela is the market leader and provider of advanced laser
and light systems that enable physicians and personal care practitioners
to perform a wide variety of non-surgical and cosmetic procedures. We
were founded in 1970, went public in 1986, and today, we have over
10,000 devices installed in 64 countries, and greater than 50% of our
revenues are typically from outside the United States. We are
participating in a large and growing global market for non-surgical
cosmetic procedures. We have an extensive product portfolio of laser and
light-based products, and we have a solid and expanding global
distribution channel and highly efficient and experienced R&D team, and
that is why Candela is number one in this marketplace. TWST: Give us an idea of what the industry is today as far as its growth
dynamics, who the major players are, and what you see as the key trends,
issues, and drivers.
Mr. Broyer: A majority of the revenue is coming in the area of hair
removal revenue, and this market is expanding. It initially started in
what we used to refer to as the core market, which was derms and
plastics, and there were about 15,000 possible candidates for the
equipment. It has now expanded into much broader markets like family
practitioner, OB/GYN and GPs, and that is about 10 to 15 times what the
original size market was. So the market is growing at about a 20% pace
and Candela, because of its advanced distribution channel, is taking
advantage of that growth and has been the market leader for the last two
years.
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