Yahoo Finance Venus Concept's (VERO) Latest Supply Deal to Aid its Business
Venus Concept VERO recently entered a new strategic resurfacing and skin-tightening device supply arrangement with Skin Laundry Holdings, Inc., a Los Angeles-based company specializing in skin transformation treatments.
Through safe, efficient and reasonably priced energy facials, Skin Laundry has been revolutionizing the way individuals treat and remodel their skin, making them leaders in the aesthetics market. Skin Laundry provides a comprehensive range of the newest skin-care technologies and processes and it currently has 66 clinics worldwide.
The supply agreement comprised a first order for Venus Viva (Viva) devices for their United States locations, as well as the consumable Viva tips needed to finish the procedures.
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Skin Laundry intends to use Venus Concept's exclusive NanoFractional Radio Frequency (RF) Technology with SmartScan, which offers clinically validated efficacy in resurfacing and tightening, to perform thousands of skin resurfacing procedures each month across their chain of clinics. With more than 9,000 systems installed worldwide, Venus Concept's technology offers RF and Pulsed Electro Magnetic Fields (PEMF) for the best possible collagen and elastin formation.
Thanks to its cutting-edge and patented aesthetic innovations, the Venus Viva produces safe and remarkably effective treatment results. Venus’ ability to supply top-notch equipment and customer assistance to small and large aesthetic service providers is demonstrated by Skin Laundry's initial order.
More on Venus Viva
Venus Viva is a highly customized skin-resurfacing tool that requires little recovery time and produces amazing results. It is a fractional radiofrequency system that enables operator control over ablation, coagulation, and resurfacing for improved efficacy in treating mild to severe skin damage. It is powered by NanoFractional Radio RF with SmartScan technology. Venus Viva is a lightweight tabletop device that can replace all existing skin resurfacing equipment. All skin types can safely undergo skin resurfacing procedures with little downtime.
The SmartScan technology uses a unique algorithm and pattern selection technology that enables the operator to generate customized patterns for maximum flexibility and control during treatment. It also allows ablation and coagulation of the epidermis and dermis zone fractionally, resulting in more effective skin resurfacing for mild to severe skin conditions.
Venus Viva comes with two applicators — the DiamondPolar applicator for non-invasive wrinkle reduction and the NanoFractional RF applicator for operations requiring skin resurfacing and ablation. The DiamondPolar uses Venus Concept's proprietary technology, a combination of Multi-Polar RF and PEMF, to treat moderate to severe wrinkles and rhytides. The NanoFractional RF applicator is intended to resurface the skin, so mitigating the appearance of rosacea, striae, dyschromia, deep wrinkles, enlarged pores, uneven skin tone and texture and scars from acne and other conditions on all skin types.
Industry Prospects
Per a report by Coherent Market Insights, the global skin care products market is estimated to be valued at $149.5 billion in 2024 and is expected to reach beyond $207.1 billion by 2031, registering a CAGR of 4.8%.
Given the market potential, Venus Concept’s new supply arrangement with Skin Laundry is likely to boost its business and generate additional revenues.
Price Performance
In the past six months, VERO’s shares have lost 1.8% against the industry’s rise of 8.8%. The S&P 500 increased 16.9% in the same time frame.
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Zacks Rank & Stocks to Consider
VERO carries a Zacks Rank #4 (Sell) at present.
Some better-ranked stocks in the broader medical space that have announced quarterly results are DaVita DVA, Ecolab ECL and Boston Scientific Corporation BSX.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted earnings per share of 56 cents, beating the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.
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Boston Scientific Corporation (BSX) : Free Stock Analysis Report
Ecolab Inc. (ECL) : Free Stock Analysis Report
DaVita Inc. (DVA) : Free Stock Analysis Report
Venus Concept Inc. (VERO) : Free Stock Analysis Report
