In recent years, health-care venture capitalists have identified aesthetics companies as nice, safe places for them to invest their money. After all, the regulatory hurdles are considerably lower than traditional health-care devices. A product for hair removal isn’t likely to require anything more than a 510(k) from the Food and Drug Administration. And, more importantly, people aren’t looking for their insurance companies to pay to remove unwanted body hair. Typically, they’ll shoulder the cost themselves, creating a surer stream of private payments rather than reimbursements.
But in this search for green pastures, venture capitalists like 3i Group and RWI Ventures are straying closer and closer to the line separating medical device and consumer products companies....
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