Procter & Gamble renews effort to bring light-based hair removal to the home
Consumer giant Procter & Gamble Co. has signed a new deal with Palomar Medical Technologies Inc. of Burlington to allow Procter & Gamble to bring to market light-based hair-removal systems for women.
Palomar produces laser and pulsed-light systems to remove hair, acne, blemishes, and tattoos. To date, all of its products are used by medical professionals, but it plans to introduce home treatments by 2009.
Palomar said the new agreement replaces a 2003 agreement with the Gillette Co., the Boston shaving giant that was acquired by Procter & Gamble in 2005 for $57 billion.
Under the new agreement, Procter & Gamble will initially pay Palomar $1.25 million per quarter; after a commercial product is launched, that payment formula will be replaced by a confidential formula based on product sales, the companies said.
(By Chris Reidy, Globe staff)
