Based in northern Israel, Syneron makes cosmetic medical equipment and seems set to fetch a pretty penny from Apax Partners.Syneron Medical, a company based in the northern Israeli town of Yokne’am that develops and manufactures medical devices that are used in cosmetic medicine procedures, is expected to be sold to the British private equity fund for between $400 million and $500 million. According to some media reports, the deal could be signed as early as this week.Neither Syneron Medical nor Apax Partners responded to requests to comment on the reports.Because Syneron is publicly traded — on the Nasdaq exchange — Apax will have to make a formal offer for shares of the company, which has a market capitalization of $365 million. Apax is offering a premium of up to 37% over the market price of the company’s stock.The purchase of Syneron, which is also known as Syneron Candela, will be led by Apax’s London-based health care division rather than the company’s office in Israel, which generally engages in smaller transactions.Syneron’s products are used in applications that include hair removal, tattoo removal, wrinkle reduction, acne treatment and body shaping.The company’s products are sold under the Syneron, Candlela and CoolTouch brands. Founded in 2000, the company has development and manufacturing facilities in both Israel and the United States and sells its products in 86 countries. The founder of the company, which has a workforce of about 820, is Shimon Eckhouse, its chairman. Eckhouse, who is the uncle of the company’s CEO, Amit Meridor, has a 7.5% stake in Syneron. Other major shareholders include the American investment funds Senvest Management, with an 11 % stake, and Brandes Investment Partners with 10.5%.Although Syneron’s stock rose 43% over the past year, the share price is about what it was five years ago. Last year, Syneron had revenues of $298 million, up 7% on the previous year. It also reported adjusted non-GAAP net profits last year of $12 million, nearly double 2015’s figure.