Steel Partners has submitted an unsolicited acquisition proposal for InMode at $16.75 per share in cash, valuing the company at approximately $1.1 billion. InMode's board has established a special committee to evaluate the offer alongside any competing bids, a standard defensive posture that typically invites other suitors.
InMode's core portfolio—Morpheus8 (fractional RF microneedling), Lumenis-integrated platforms, and body-contouring devices—generates recurring revenue through consumables (tips, handpieces) and service contracts. At current multiples, the bid reflects PE confidence in the device market's cash-generation potential, even amid competitive pressure from Cutera, Cynosure, and Synergetic.