Steel Partners, which holds a significant stake in InMode, has made an unsolicited $16.75-per-share cash acquisition proposal, directly challenging a competing CEO-led buyout bid. The move signals serious shareholder pressure on the Nasdaq-listed device company, which has built its revenue base on monopolar RF platforms like Morpheus8 and fractional ablative systems used across thousands of independent medspas and dermatology practices.
Business & M&A
Steel Partners Bids $16.75/Share for InMode — Challenging CEO Buyout
Unsolicited cash offer from major shareholder escalates M&A battle for the RF and energy-device maker.
Steel Partners' $16.75-per-share bid escalates the M&A battle for a device maker generating $365M–$375M in annual revenue.
The timing matters: InMode's Q2 2026 revenue guidance sits at $95.2M–$95.4M, with full-year guidance of $365M–$375M. A contested takeover creates uncertainty around device pricing, loyalty programs (Aspire rebates), and capital equipment financing—all levers that practices depend on for acquisition economics. Steel Partners' bid suggests confidence in InMode's market position but also signals potential operational or strategic changes under new ownership.
Source: original report ↗
Frequently asked questions
What is Steel Partners' bid price for InMode and why does it matter?
Steel Partners, a major shareholder, bid $16.75 per share in cash to acquire InMode, challenging a competing CEO-led buyout. This unsolicited offer signals serious pressure on the Nasdaq-listed RF device maker and creates uncertainty around device pricing, loyalty programs like Aspire rebates, and equipment financing that medspas depend on.
How could an InMode acquisition affect medspa device pricing and rebates?
A contested takeover of InMode could lead to operational or strategic changes under new ownership, potentially impacting device pricing, Aspire loyalty rebates, and capital equipment financing terms that practices currently rely on. The uncertainty alone can affect acquisition economics for medspas planning equipment purchases.
What is InMode's current revenue guidance and market position?
InMode's Q2 2026 revenue guidance is $95.2M–$95.4M, with full-year guidance of $365M–$375M. The company dominates the monopolar RF device market with platforms like Morpheus8 and fractional ablative systems used across thousands of independent medspas and dermatology practices.
Why would a medspa owner care about InMode's M&A battle?
InMode is a critical supplier of RF and energy-based devices to medspas. A change in ownership could affect device availability, pricing, financing options, and rebate programs that practices depend on for profitability and equipment acquisition planning.
What devices does InMode make that medspas use?
InMode manufactures monopolar RF platforms including Morpheus8 and fractional ablative systems, which are widely used across thousands of independent medspas and dermatology practices for skin rejuvenation and aesthetic treatments.
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