Steel Partners, already holding a stake in InMode, has made an unsolicited cash offer of $16.75 per share to acquire the publicly traded aesthetic-device maker — a move that challenges an ongoing CEO-led buyout proposal. The bid signals confidence in InMode's core RF microneedling and body-contouring platform, which has driven consistent revenue growth and market penetration among independent medspas and DSOs.
Business & M&A
Steel Partners Bids $16.75/Share for InMode — What a Hostile Takeover Means for Device Buyers
A major shareholder's unsolicited offer upends the aesthetic-device market's M&A calculus.
A PE-backed takeover could tighten rebate structures and financing terms for independent practices.
For practice owners, the immediate question is stability: InMode supplies the Morpheus8 RF microneedling system, Lumenis-branded body-contouring devices, and other workhorse platforms. A change in ownership—whether to Steel Partners or the competing CEO-led group—could reshape rebate structures, financing terms, and service support. Historically, PE-backed consolidations in aesthetic devices have tightened margins on equipment leases and introduced more aggressive loyalty-program requirements. InMode's Q2 2026 guidance of $95.2–$95.4M in revenue and full-year guidance of $365–$375M suggests the business remains attractive to acquirers.
Source: original report ↗
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