Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced the expansion of its international distributor network with the signing of two new exclusive partnerships: Core Aesthetics Skin & Laser Limited (“Core Aesthetics”) in the United Kingdom and Spectra Medical Systems (“Spectra”) in India. Both regions are high growth markets for the Company. The execution of these agreements represents an important step towards Venus Concept’s focus of driving international growth through strong distributor partnerships.
“We are excited to continue developing our distributor network in important markets. This transition allows us to leverage local expertise to grow our revenues in these regions and refocus our resources towards the U.S. and other profitable direct markets as we continue to execute on our restructuring efforts,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “We look forward to working with the teams at Core Aesthetics and Spectra to build the Venus Concept business in the United Kingdom and India.”
Core Aesthetics established its roots in London. Its founder, Michael Dodd, was a former partner of Venus Concept in the UK and helped facilitate the successful launch of Venus Viva and distribution of Venus Legacy and Venus Versa within the region. Core Aesthetics brings years of industry experience and a reputation as a trusted distributor. It will begin its sale, service and training of the Company’s products in the United Kingdom in January 2024, catering to the comprehensive needs of its highly valued clientele.
Spectra is a leading medical equipment distributor based in Chennai, India, with branch offices throughout the entire country and over 125 dedicated sales personnel focused on providing customers access to the latest and best technologies in the industry. Spectra brings extensive experience distributing for major global aesthetic brands and will enable Venus Concept’s diverse portfolio to reach renowned clinics and doctors throughout the region. Spectra will assume the responsibility of providing customer and technical support and handling all aspects of commercial operations, including sales, marketing, post-sale support and customer education.
“We take immense pride in our association with Venus Concept, renowned for its high-quality, state-of-the-art devices,” said Michael Dodd, Chief Executive Officer of Core Aesthetics. “Our journey with the Venus Concept brand has been marked by a commitment to excellence and a dedication to providing our clients with the most advanced aesthetic solutions available.”
“Spectra is thrilled to be the exclusive distributor for Venus Concept’s products in India,” said Ramamoorthy Sundraram, Managing Director of Spectra Medical Systems. “The aesthetic industry in the region continues to grow rapidly and Venus Concept’s world-class brand and extensive product portfolio of energy-based and hair restoration devices will be a perfect fit for clinics looking to provide best-in-class results to customers.”
About Venus Concept
Venus Concept is an innovative global medical aesthetic technology leader with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies and reach in over 60 countries and 14 direct markets. Venus Concept’s product portfolio consists of aesthetic device platforms, including Venus Versa, Venus Legacy, Venus Velocity, Venus Fiore, Venus Viva, Venus Glow, Venus Bliss, Venus BlissMAX, Venus Epileve, Venus Viva MD and AI.ME. Venus Concept’s hair restoration systems include NeoGraft® and the ARTAS iX® Robotic Hair Restoration system. Venus Concept has been backed by leading healthcare industry growth equity investors including EW Healthcare Partners (formerly Essex Woodlands), HealthQuest Capital, Longitude Capital Management, Aperture Venture Partners, and Masters Special Situations.
About Core Aesthetics Skin & Laser Limited
Core Aesthetics Skin & Laser Limited, a leading provider of cutting-edge aesthetic solutions, with extensive experience working with Venus Concept in the United Kingdom. The Core Aesthetics team boasts decades of experience in the medical aesthetic field and expertise in understanding the needs of customers.
About Spectra Medical Systems
Spectra Medical Systems is known for embracing and promoting world class brands, scientifically advanced and high-end technologies that help doctors create a healthier, happier and intelligent skin care future and perfect body contours. Spectra’s working model is grounded on 3 core pillars: provide innovative products for every skin concern through customized distribution policies, excellence in customer education and unparalleled customer support. Spectra has successfully introduced an array of latest and the best technologies in the industry that have been widely trusted and used by thousands of renowned clinics and doctors in India and neighboring countries over the past decades.