Latest news with #Prollenium
Cision Canada
a day ago
- Business
- Cision Canada
/C O R R E C T I O N from Source -- Ario Khoshbin/
In the news release, Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium, issued 16-May-2025 by Ario Khoshbin over PR Newswire, we are advised by the source that the second paragraph has been updated. The complete, corrected release follows: Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America and is the manufacturer of the globally recognized dermal filler brand Revanesse®. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court.
Yahoo
a day ago
- Business
- Yahoo
/C O R R E C T I O N from Source -- Ario Khoshbin/
In the news release, Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium, issued 16-May-2025 by Ario Khoshbin over PR Newswire, we are advised by the source that the second paragraph has been updated. The complete, corrected release follows: Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America and is the manufacturer of the globally recognized dermal filler brand Revanesse®. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court. View original content: SOURCE Ario Khoshbin View original content: 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
16-05-2025
- Business
- Yahoo
Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium
TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court. View original content: SOURCE Ario Khoshbin View original content: Sign in to access your portfolio
Cision Canada
16-05-2025
- Business
- Cision Canada
Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium
TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court.
National Post
05-05-2025
- Health
- National Post
Prollenium Adds RENEW™+ Skin Booster to the REVANESSE® Collection
Article content The product marks a new era for dermal injections with long-lasting hydration to improve skin quality from the inside out. Article content Article content RICHMOND HILL, Ontario — Prollenium, a global leader in medical aesthetic technology, launches Renew™+ to the Revanesse ® family of dermal fillers in Canada. Available immediately, Revanesse® Renew™+ is a unique skin booster that combines low and high molecular weight hyaluronic acid (HA) to hydrate and rejuvenate the skin below the surface, improving skin texture and creating a smoother, more radiant appearance. Article content Unlike traditional fillers, Revanesse® Renew™+ is a skin-boosting injection made with 100% high-purity, non-cross-linked HA with a low viscosity and easy spreadability. It is ideal for improving skin quality. Injected into the top layers of skin on the face, neck, or chest, it attracts and retains water molecules, adding an extra moisture boost for a refreshed and renewed look. Article content 'Renew™+ is a first-of-its-kind dermal filler made in Canada and continues the tradition of breakthrough innovations for the family of Revanesse® products,' said Tim Lee, Chief Scientific Officer of Prollenium. Revanesse® Renew™+ marks the next generation of dermal injections, using the latest technology and advancements to create a lasting solution that leaves patients glowing and rejuvenated. Article content The Revanesse® family of dermal fillers features multi-purpose HA-based dermal fillers that provide real results instantly with a quick, minimally invasive beauty treatment. Revanesse® Renew+™ penetrates deeply to hydrate from within, reducing the appearance of fine lines and wrinkles for smoother, plumper skin. Works on the skin's surface to firm, tone, and lock in moisture for a more lifted, youthful look. Article content 'At Prollenium, we're committed to creating top-of-the-line products to help health care providers give patients the refreshed look they've always wanted,' said Walter Geiger, acting CEO of Prollenium. 'This latest product in the Revanesse® line underscores our dedication to equipping providers with the latest technology and advancements in the medical aesthetics industry.' Article content Revanesse® Renew™+ is administered via microinjections into the superficial dermis using fine gauge needles, spaced evenly, 1 cm apart across the desired treatment area. For optimal results, it is recommended to have 2 treatments at 4 weeks apart. Article content About Prollenium Prollenium leads the way in facial aesthetics and rejuvenation technology, turning complex science into reliable, effective products. As the first FDA-approved dermal filler manufacturer in North America, Prollenium redefines standards with cutting-edge innovation, exceptional safety, and a portfolio tailored to patient needs. Article content Article content Article content Article content Article content Article content
