Rodman & Renshaw Reiterates Buy Rating With a $6.00 Price Target for DS Healthcare Group, Inc.
POMPANO BEACH, Fla., March 02, 2016 (GLOBE NEWSWIRE) -- Senior Biotechnology Analyst, Raghuram Selvaraju, Ph.D., of Rodman & Renshaw, (a unit of H.C. Wainwright & Co.) has reiterated his buy rating with price target of $6.00 per share of DS Healthcare Group, Inc. (NASDAQ:DSKX) after the announcement to acquire Radiancy, Inc., a leading developer of consumer medical devices and the Neova® dermatological products business. For more information on the acquisition announcement a recording of the shareholder call can be heard by clicking here.
Founded in 1998, Radiancy Inc. is a developer and manufacturer of home-use and professional aesthetic and dermatological devices. The company sells a range of home-use devices under its proprietary brands for various indications including hair removal, acne reduction, skin rejuvenation and face lifting. The company also offers a professional product line that addresses acne clearance, skin tightening, psoriasis care and hair removal sold to physicians, clinics, and spas.
Radiancy’s products are supported by two core proprietary technologies known as LHE™ (Light Heat Technology) and Thermicon™. The company’s LHE™ technology is superior in cost performance, efficacy and ease of application to both laser and intense pulse light (IPL) technologies. LHE™ combines the use of direct heat and a wide-spectrum light source and allows very large treatment spot sizes with less discomfort and without the requirement of skin cooling.
LHE™ technology is incorporated in Radiancy’s FDA-cleared professional devices as well as its consumer products. The Thermicon™ technology, used in hair removal products, is the only technology currently on the market that allows for at-home painless and long-lasting hair reduction on all skin types and hair colors and body parts. For more information visit www.radiancy.com
NEOVA was the first clinical skin care brand to bring real innovation to the photo-aging category by introducing Copper Peptide Complex® technology products. Making the association between DNA damage and premature skin aging, NEOVA now introduces DNA repair and Copper Peptide Complex technologies providing complete, continuous, optimized care. These unique, award-winning Combination Therapy skin care formulas target photo-damaged skin. Scientific studies have demonstrated that DNA repair and copper play fundamental roles in skin health. Without advanced delivery systems, vital nutrients, proteins and enzymes are unable to reach their destination and revitalize the appearance of skin.
For more information, visit: www.neova.com
About DS Healthcare Group
DS Healthcare Group Inc. is engaged in the development of biotechnology for topical therapies. It markets through online channels, specialty retailers, distributors, pharmacies, and salons. Its research has led to a highly innovative portfolio of personal care products and additional innovations in pharmaceutical projects. For more information on DS Health Group's flagship brand, visit: www.dslaboratories.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations of DS Healthcare and are subject to uncertainty and changes in circumstances. These forward-looking statements include, among others, statements regarding the expected benefits of a potential combination of Radiancy, Neova, and DS Healthcare, including the expected effect of the Mergers on financial results and profile (e.g., earnings per share and synergies); the anticipated benefits of geographic diversity that would result from the Mergers and the expected results of Radiancy’s, Neova’s, and DS Healthcare’s product portfolios; expectations about future business plans, prospective performance and opportunities; required regulatory approvals and the expected timing of the completion of the transaction. These forward-looking statements may be identified by the use of words such as “expect,” “anticipate,” “believe,” “estimate,” “potential,” “should”, “will” or similar words intended to identify information that is not historical in nature. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. There is no assurance that the potential transaction will be consummated, and there are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include (a) the timing to consummate a potential transaction; (b) the ability and timing to obtain required regulatory approvals and satisfy or waive other closing conditions; (c) the possibility that the Mergers do not close when expected or at all; or that the companies may be required to modify aspects of the Mergers to achieve regulatory approval; (d) the ability of DS Healthcare to promptly and effectively integrate their respective businesses of Radiancy and Neova Technology; (e) the requirement to satisfy closing conditions to the Mergers as set forth in the Merger Agreements; (f) the outcome of any legal proceedings that may be instituted in connection with the transaction; (g) the ability to retain certain key employees of Radiancy or Neova; (h) that there may be a material adverse change affecting Radiancy, Neova, or DS Healthcare, or the respective businesses of PhotoMedex or DS Healthcare may suffer as a result of uncertainty surrounding the transaction; and (i) the risk factors disclosed in DS Healthcare’s filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K, which DS Healthcare filed on April 15, 2015. Forward-looking statements reflect DS Healthcare’s management’s analysis as of the date of this release, even if subsequently made available DS Healthcare on its website or otherwise. DS Healthcare does not undertake to revise these statements, whether written or oral, that may be made from time to time to reflect subsequent developments, except as required under the federal securities laws. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
Additional Information and Where You Can Find It
This press release is not a solicitation of a proxy from any stockholder of DS Healthcare. In connection with the Merger Agreements, DS Healthcare intends to file relevant materials with the SEC, including proxy statements by DS Healthcare. Investors and security holders are urged to read these materials and any other relevant documents filed with the SEC when they become available because they will contain important information about Radiancy, Neova, DS Healthcare and the proposed transaction. The proxy statements, and other relevant materials (when they become available), and any other documents filed by DS Healthcare with the SEC, may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders of DS Healthcare may obtain free copies of the documents filed with the SEC by accessing DS Healthcare’s web site at: www.dshealthgroup.com
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Participants in the Solicitation
DS Healthcare and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed transactions. Certain executive officers and directors of DS Healthcare have interests in the transaction that may differ from the interests of stockholders generally. Information about DS Healthcare’s directors and executive officers is available in DS Healthcare’s definitive proxy statement, dated January 8, 2016, for its 2015 annual meeting of stockholders. These interests will be described in the proxy statement when it becomes available.
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