Sinclair Announces Acquisition of Cocoon Medical and Expansion into Energy-Based Devices (EBD)

Sinclair (www.sinclair.com) a global aesthetics company headquartered in London and fully-owned subsidiary of Huadong Medicine Company Limited announces the acquisition of the group of companies forming the Cocoon Medical business (“Cocoon”, www.cocoonmedical.com).

Founded in 2010 by José Antonio Sánchez Jaime and based in Barcelona, Spain, Cocoon has created an innovative portfolio of non-invasive lasers and cryoadipolisis (freeze induced fat cell apoptosis) devices for both clinics and med-spas. All products have been developed by Cocoon’s in-house R&D team and are produced at Cocoon’s own facility in Sofia, Bulgaria. Cocoon has direct commercial operations in Europe, Latin America, Hong Kong and the US, and in addition manages a network of over 60 distributors. Cocoon’s leading cryoadipolisis brands include Cooltech® and Cooltech Define®, and in laser hair removal Primelase®.

Chris Spooner, CEO of Sinclair commented, “the acquisition rationale was compelling. Cocoon came to our attention as a conservatively managed company which since inception, has steadily grown its business, presence and reputation by investing primarily in developing its in-house R&D and manufacturing standards. As a consequence, Cocoon’s products combine outstanding technology, build quality and user flexibility with competitive pricing to generate an industry-leading value proposition. Moreover, the company has a rich product development pipeline to sustain its technological edge for several years.

We believe that we can dramatically expand Cocoon’s operations by leveraging Sinclair’s global presence, marketing, training, and on-line capabilities, including our digital Sinclair College platform. Moreover, our geographical reach with direct commercial affiliates in China, Korea, Russia, UAE, Europe and Latin America present an excellent platform for our new EBD operations.”

For Sinclair, the combination of our injectables business with EBDs provides a strong commercial opportunity and aligns better with the growing needs and sophistication of our customer base. Non-invasive aesthetic therapy regimens frequently involve the use of both injectables and EBD’s, and it is Sinclair’s vision to service this need by offering our customers a full range of treatment options. “We have endeavoured to provide the market with cutting-edge injectable technologies and we intend to repeat this winning strategy in the EBD space”, said Emilie Croissant, Global Head of Marketing.

The founder and, until today, owner and Chairman of Cocoon, José Antonio Sánchez Jaime believes that “the acquisition of Cocoon by Sinclair enhances the market position of both groups. Sinclair has a highly professional team, and I am convinced that Cocoon’s business will continue growing even faster with the help of Sinclair.” José Antonio Sánchez Jaime is “grateful to the current Cocoon CEO, Miguel Pardos, and to the whole Cocoon team for the work done and the huge success achieved so far. I take this opportunity to also thank the Sinclair team for making this fantastic match happen.”

The current Cocoon CEO, Miguel Pardos, will report to Chris Spooner and be responsible for Sinclair’s newly created EBD Division, headquartered in Barcelona. After the acquisition of Cocoon Sinclair will continue to explore other potential M&A and licensing targets in the EBD market.

“We are very excited to join the Sinclair business,” said Miguel Pardos, Cocoon’s CEO. “Sinclair’s commercial expertise, scale, and reach in the aesthetics space will drive broader market penetration and acceptance of our products. The company’s direct presence in key markets along with our extensive distribution channels will accelerate the launch and uptake of our products as well as maximize their potential globally.”

Both Sinclair and Cocoon have bounced back strongly from 2020, with Q1 2021 sales beating expectations at both companies. For Sinclair, the Cocoon acquisition comes during a particularly exciting year, following the launch of Lanluma® (PLLA collagen stimulator) in February, the impending launch of HA filler MaiLi® (with OxiFree® technology), the expected launch of Ellansé® in China in Q3 and the anticipated Q4 launch of Perfectha® with lidocaine.

Chris Spooner concluded, “I am delighted to announce the Cocoon acquisition. It is a very significant strategic move and a great commercial opportunity. I welcome the Cocoon staff to Sinclair and am very much looking forward to working together”.

About Huadong Medicine Company Limited

HMC is a manufacturer and distributor of pharmaceutical and medical products in China, where it has over 10,000 employees and generated approximately $5.4 billion of revenue in the financial year ended 31 December 2019. Over the past five years, HMC has established a leading aesthetics business in China, offering a toxin and a variety of fillers. HMC is an affiliate of China Grand Enterprise Inc. (CGE), an investment group headquartered in Beijing. CGE has four business sectors: pharmaceuticals and healthcare, commodities trading, real estate investment and financial services, among which, pharmaceuticals and healthcare sector is the core business. CGE is ranked in the top five enterprises in the Chinese Pharmaceutical industry and manages over 60 pharmaceutical subsidiary companies, HMC is the largest one.

About Sinclair

Sinclair is an international company operating in the fast growth, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclair is planning entry to multiple new geographic markets and line extension launches over the next few years. The Group has an established sales and marketing presence in the EU markets, Brazil, US, Mexico, UAE, Russia and South Korea and a network of international distributors.

For more information, visit www.sinclair.com

Media Contacts:

Sinclair

Tel: +44 (0) 20 7467 6920

Chris Spooner

Andy Crane