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Linden Capital Partners and DW Healthcare Partners have successfully merged Edge Systems (HydraFacial) with Vesper Healthcare Acquisition Corp (NASDAQ: VSPR). This merger creates The Beauty Health Company, which will trade under the ticker symbol 'SKIN' on Nasdaq starting May 6, 2021. Since its acquisition by Linden in 2016, HydraFacial has grown significantly, expanding its international presence and enhancing its infrastructure. Brent Saunders will serve as Executive Chairman, while Clint Carnell will be the CEO, with plans to continue growth strategies.
The HydraFacial Company reported strong preliminary net sales for Q1 2021, highlighting record sales driven by brand appeal amidst COVID-19 challenges. The planned merger with Vesper Healthcare Acquisition Corp. (NASDAQ: VSPR) is expected to close soon, transitioning to The Beauty Health Company under the ticker symbol SKIN. CEO Clint Carnell emphasized growth across markets, especially Asia-Pacific, and increasing retail partnerships, including with Sephora and Clinique. Caution is advised as results are preliminary and subject to change.
The HydraFacial Company announced preliminary net sales for fiscal year 2020, expected to be approximately $119 million, surpassing its previous estimate of $115 million. The upcoming merger with Vesper Healthcare (NASDAQ: VSPR) is set for completion in the first half of 2021. Despite COVID-19 challenges, HydraFacial expanded its global reach by adding over 2,000 new delivery systems and strengthened its recurring revenue, anticipated to be more than 50% of sales. The final year-end results will be reported after the audit.
The HydraFacial Company and Vesper Healthcare Acquisition Corp. (NASDAQ: VSPR) have announced a definitive merger agreement, positioning HydraFacial to become a public company. Valued at $1.1 billion, the transaction includes $975 million at closing and $75 million contingent on future acquisitions. HydraFacial has achieved over 50% annual revenue growth through 2019 and operates over 15,000 treatment systems globally. The merger is expected to conclude in the first half of 2021, pending shareholder approval and regulatory conditions.
