Bain-backed Korean aesthetic medical company Classys expands in South America with $13 million acquisition of Brazil’s JL Health.WHO: JL Health owns Medsystems, a South American distributor group specializing in energy-based device (EBD) aesthetic medical equipment. Medsystems has more than 15,000 hospitals and aesthetic spas in Brazil. It currently has exclusive distribution rights for Classys’ main products. It also owns entities providing customer education and financial services linked to its core business.Established in 2007 by dermatology specialist Jung Sung-jae, Classys supplies medical devices used for cosmetic procedures such as plastic surgery, anti-aging, and excess fat removal. Known for the beauty device Shurink Universe, which uses high-intensity focused ultrasound (HIFU) for skin tightening, the company has three brands: Classys, specializing in medical devices for clinics; Cluederm, used at aesthetic clinics; and Skederm, for personal beauty care devices. The company owns 55% of the HIFU treatment device market.WHY: The transaction secures the sales and operating profits of Classys' distribution partner as well as its sales network and customer touchpoints. This will help accelerate its market expansion and move it closer to its 2030 sales target of $1 billion.IN THEIR OWN WORDS: Baek Seung-han, CEO of Classys, said, “The Brazilian aesthetic medical device market that Classys has been observing has been attractive, but domestic aesthetic medical device companies have not been able to achieve sufficient synergy by entrusting equipment distribution and services only to local distributors.