Sientra® Acquires Tissue Expander Portfolio from Specialty Surgical Products, Inc.
November 08 2016 - 4:01PM
Highlights
Sientra, Inc. (NASDAQ:SIEN), a medical aesthetics company, today
announced the acquisition of a complete portfolio of premium,
differentiated tissue expanders from industry pioneer Specialty
Surgical Products, Inc. (SSP). With this acquisition, Sientra adds
to its product offering the AlloX2 and Dermaspan™ lines of breast
tissue expanders, in addition to the Softspan™ line of extremity
expanders.
Jeffrey Nugent, Chairman and Chief Executive
Officer of Sientra, said, “This acquisition represents another
important step in building the Sientra platform and positioning the
business for future growth in the $235 million U.S. tissue expander
and gel implant breast reconstruction market as we look to further
strengthen our efforts in this area. It is a natural portfolio
extension for Sientra and provides a premium expander line to build
upon in a market where the standard of care often begins with
breast tissue expansion and follows with silicone gel
implants.”
Mr. Nugent continued, “In addition, this
acquisition will enable us to leverage and expand our sales
distribution while broadening our product portfolio with a
well-established line of expanders. In the case of the dual port
AlloX2, we now have a truly innovative solution designed to address
post-surgical seromas and infection with its patented and novel
drainage system. With early promising clinical performance and
results confirmed by Key Opinion Leaders, we are confident in the
value of this product portfolio and look forward to building on
these results as we continue to expand the clinical evidence behind
these products.”
Sientra will continue to engage SSP’s highest
performing independent sales agents who will be dedicated to tissue
expanders, while Sientra’s existing PSCs will sell across the
entire Sientra product portfolio.
About SientraHeadquartered in
Santa Barbara, California, Sientra is a medical aesthetics company
committed to making a difference in patients' lives by enhancing
their body image, growing their self-esteem and restoring their
confidence. The Company was founded to provide greater choice to
board-certified plastic surgeons and patients in need of medical
aesthetics products. The Company has developed a broad portfolio of
products with technologically differentiated characteristics,
supported by independent laboratory testing and strong clinical
trial outcomes. The Company sells its breast implants and breast
tissue expanders exclusively to board-certified and
board-admissible plastic surgeons and tailors its customer service
offerings to their specific needs. The Company also offers a range
of other aesthetic and specialty products including bioCorneum®,
the professional choice in scar management.
About Specialty Surgical Products,
Inc.Specialty Surgical Products offers one of the widest
selections of quality tissue expanders as well as associated
products, pediatric specialty products and accessories. The Company
has developed and sold its patent protected, premium priced Allox2®
dual port breast expander and Dermaspan™ and Softspan® tissue
expanders to physicians across the United States since 1997.
Additional information can be found
at http://www.ssp-inc.com//.
Forward-looking statements
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, based on management’s current assumptions and
expectations of future events and trends, which affect or may
affect the Company’s business, strategy, operations or financial
performance, and actual results may differ materially from those
expressed or implied in such statements due to numerous risks and
uncertainties. Forward-looking statements include, but are not
limited to, statements regarding the ability of the Company to (i)
successfully integrate the acquired SSP products into the Company’s
overall product portfolio, (ii) leverage and expand the sales force
distribution, including to strengthen distribution into the
hospital, and (iii) build the acquired tissue expander business, as
well as the Company’s ability to successfully execute and manage
the sales strategy with respect to the acquired SSP products. Such
statements are subject to risks and uncertainties, including that
the Company has limited experience in developing and selling the
acquired SSP Products, management’s focus on the Company’s existing
business may be diverted in order to focus on integrating the
acquired SSP products, and the Company may not be successful in
integrating and growing the newly acquired business. Additional
factors that could cause actual results to differ materially from
those contemplated in this press release can be found in the Risk
Factors section of Sientra’s most recently filed Quarterly Report
on Form 10-Q and its Annual Report on Form 10-K for the year ended
December 31, 2015 which Sientra filed with the Securities and
Exchange Commission on March 10, 2016. All statements other than
statements of historical fact are forward-looking statements. The
words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’
‘‘aim,’’ ‘‘estimate,’’ ‘‘continue,’’ ‘‘anticipate,’’ ‘‘intend,’’
‘‘expect,’’ ‘‘plan,’’ or the negative of those terms, and similar
expressions that convey uncertainty of future events or outcomes
are intended to identify forward-looking statements. Estimates and
other forward-looking statements speak only as of the date they
were made, and, except to the extent required by law, the Company
undertakes no obligation to update or review any estimate or
forward-looking statement.
Patrick F. Williams
Sientra, Chief Financial Officer
(619) 675-1047
patrick.williams@sientra.com
Investor Contacts:
The Ruth Group
Nick Laudico / Brian Johnston
(646) 536-7030 / (646) 536-7028
IR@Sientra.com
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