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Thursday, 02 April 2020
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The News and Media Division of The Insight Partners
Thursday, 12 Mar 2020 06:00 pm

Medical Assets Acquisition Announced by TheraLight, LLC

Assets include FDA-cleared phototherapy products

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TheraLight, LLC, an FDA-registered manufacturer and distributor of cutting-edge light therapy products, recently announces it has acquired the assets from Theralight, Inc., a manufacturer of phototherapy devices. The assets acquisition includes a portfolio of products, trademarks, and FDA 510k clearances. Theralight, Inc. was privately owned and founded in July 2000 with operations from facilities located in Carlsbad, California. The company created the first hands-free, light therapy system and had the single worldwide license from Osram Sylvania to Icetron lamp technology for the treatment of skin disorders.

"We are pleased to acquire the assets from the owners of Theralight, Inc.," stated Charles Vorwaller, president & CEO. "This acquisition provides us an opportunity to expand our company in a number of new ways, including the addition of the DuaLight and VersaClear products. There are many advantages to these non-laser products over competitors that sell Excimer lasers. The good news is that these treatments are covered by insurance companies."

 

In 2002, Theralight, Inc. received US FDA 510(k) clearance to market its desktop UV120-2 UVA/UVB phototherapy system for treating psoriasis, vitiligo, eczema, and seborrhoeic dermatitis. Weighing less than 20lbs, the product was the first targeted phototherapy system to emit either UVA or UVB bands of ultra-violet light, providing physicians with the flexibility of treating patients using either PUVA (UVA with psoralen), or UVB.

"As a company, we remain committed to delivering innovation and world class technology designed to provide positive outcomes for both medical professional and their patients," noted According to Justin Vorwaller, MBA, COO of TheraLight, LLC, 

This acquisition transaction was advised and handled through Thorpe North & Western's David W. Osborne, a registered patent attorney; TheraLight, LLC plans to integrate the acquired assets in quarter two of 2020.

Tags TheraLight FDA Phototherapy Device Medical Device Aquisition

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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