Steel Partners has made an unsolicited acquisition offer for InMode at $16.75 per share in cash, valuing the RF microneedling and radiofrequency device manufacturer at a significant premium to recent trading levels. The bid underscores ongoing consolidation among aesthetic-device OEMs as private equity seeks to build larger platforms and capture recurring revenue from installed bases.
Business & M&A
Steel Partners Offers $16.75 Per Share for InMode—Device Consolidation Accelerates
PE-backed buyout bid for RF microneedling and energy-device maker signals continued roll-up activity in the aesthetic-device space.
1-YEAR MOVE
INMD▲1.0%
| Ticker | Company | 1-year change |
|---|---|---|
| INMD | InMode Ltd. | +1.0% |
$16.75 per share—and Steel Partners is just one bidder. Device consolidation is reshaping the competitive landscape.
InMode's core products—Fractora (fractional RF microneedling) and Lumenis-legacy RF systems—generate strong unit economics and high attach rates for consumables and service contracts. A PE acquisition typically means aggressive cost-cutting, accelerated international expansion, and pressure to cross-sell across a broader device portfolio. For practices, this matters: ownership changes often trigger rebate restructuring, sales-force turnover, and shifts in clinical support priorities. The board's evaluation of "rival offers" suggests competing bidders are circling, which could push the final price higher.
Source: original report ↗
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