YOKNEAM, ISRAEL, Aug 05, 2010 (MARKETWIRE via COMTEX) -- Syneron Medical Ltd., the leading global aesthetic device company, announced that it has filed a complaint in the Central District Court in Israel against Viora Medical Ltd, Viora Inc., three former Syneron employees, and other involved parties, claiming that they have embezzled Syneron’s trade secrets and technology and violated the Company’s copyrights for use in Viora’s Reaction system. Syneron has requested relief from the court in the form of a permanent injunction against the manufacturing and sale of Viora’s system and for monetary damages in the amount of 10 million shekels.
The complaint alleges that certain core components of Viora’s system incorporate stolen technology and knowhow of Syneron and various other identical components to Syneron’s VelaShape(TM) system. These technologies and knowhow were developed shortly before two of the three former employees departed Syneron. The complaint further alleges that the three former Syneron employees were each involved in the development of Syneron’s technology and products, including specifically the VelaShape(TM) system.
The former Syneron employees named in the complaint held the following senior development positions:
-- VelaShape(TM) Project Manager and former head of Syneron’s Electronics Group -- A member of Syneron’s Electronics Group directly involved in the development of the VelaShape(TM) system -- A former consultant and part-time employee of Syneron who led the development of specific technology for the VelaShape(TM) system that Syneron claims is being used in Viora’s Reaction aesthetic system
Louis P. Scafuri, Chief Executive Officer, commented, “Syneron has what we believe to be the most comprehensive and best-in-class product portfolio in the aesthetic device industry. Our strong focus on research and development has been a key component in the development of our innovative products and this lawsuit demonstrates our commitment to protecting our proprietary technology.”
About Syneron Medical Ltd.
Syneron Medical Ltd. /quotes/comstock/15*!elos/quotes/nls/elos (ELOS 9.05, -0.24, -2.58%) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company’s technology enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite. The Company sells its products under two distinct brands, Syneron and Candela. Founded in 2000, the corporate, R&D, and manufacturing headquarters for Syneron Medical Ltd. are located in Israel. Syneron also has R&D and manufacturing operations in the US. The company markets and services and supports its products in 86 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong and distributors worldwide. Additional information can be found at www.syneron.com.
Contacts: Fabian Tenenbaum Chief Financial Officer + 972 73 244 2283 Email: Email Contact
Nick Laudico / Zack Kubow The Ruth Group 646-536-7030 / 7020 Email: Email Contact / Email Contact
SOURCE: Syneron Medical Ltd.
