Candela Corp history

By the end of 1985, Candela was on the verge of perfecting both of these lasers for medical applications, which promised far more commercial potential than the company's traditional products.

To fund the necessary expansion, the company, after changing its name to Candela Laser Corporation, went public in June 1986 at $3 a share, raising almost $5 million.

After gaining Food and Drug Administration clearance on its urology laser and shipping the first 12 units in June 1987, Candela turned to an advertising agency for a corporate identity makeover and a new logo.

Furthermore, in early 1988 it entered into a joint venture with the major Japanese international trading company, Mitsui & Co., in order to form Candela International Corporation.

By 1990, according to press reports, serious friction developed between Furumoto and the man he hired as his chief financial officer, Gerard Puorro.

With the launch of its SPTL Vascular Lesion Laser, Candela in 1991 introduced its first marketing kits for use by private practice physicians who purchased a laser.

Management was also distracted in the summer of 1992 by a takeover bid by a pair of investor brothers, Kirk Terry Dornbush and Robert Earl Dornbush, who claimed to own 7.9 percent of the company's stock.

To reflect this diversification strategy, in January 1996 the company changed its name from Candela Laser Corporation back to Candela Corporation.

2000: The company's revenues top $75 million.

With a sluggish United States economy in 2001, Candela's momentum was stunted, as sales fell to $64.8 million and net income to $2.5 million.

In 2019 the company changed its name to Candela Medical.