STRATA Skin Science Announces Leadership Change
October 30 2023 - 8:00AM
STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a medical technology
company dedicated to developing, commercializing and marketing
innovative products for the treatment of dermatologic conditions,
today announced that the Board of Directors and Bob Moccia have
mutually agreed that Mr. Moccia will step down as the Company’s
Chief Executive Officer (CEO) and member of the Board, as of
October 30, 2023. Dr. Dolev Rafaeli has been named the new
Vice-Chairman, President and Chief Executive Officer.
Dr. Rafaeli brings over 30 years of public and
private company experience, offering a dynamic and ever-changing
business landscape across various industries, encompassing
healthcare, medical device, and consumer and industrial services
fields. He served as STRATA’s President and CEO from 2018 to 2021
and previously served as the President and CEO of PhotoMedex, the
company that developed the technology and the unique go-to-market
of the XTRAC® and VTRAC®, and had sold that business to STRATA in
2015. While at PhotoMedex, Dr. Rafaeli increased the global install
base to over 2,000 devices and created a unique suite of services
that drove the growth in domestic and international recurring
revenue sales. During his tenure as CEO of PhotoMedex, from 2011 to
2017, the technology, intellectual property, and clinical
application of the products were expanded widely, resulting in over
150 peer-reviewed published clinical studies. Additionally, from
2006 to 2017, he served as the President and CEO of Radiancy Inc.,
a subsidiary of PhotoMedex. He is also on the Board of Directors of
Trukera Medical, formally TearLab Corporation. Dr. Rafaeli
graduated with a BSc in industrial engineering and management cum
laude and an MSc in operations management summa cum laude from the
Technion-Israel Institute of Technology and holds a PhD in business
management from Century University and an MBA summa cum laude from
Cornell University.
“On behalf of the Board, I would like to thank
Bob Moccia for his dedicated leadership and invaluable
contributions during his time at the helm of STRATA,” stated Dr.
Uri Geiger, Chairman of the Board. “We are optimistic about the
Company’s continued growth, and we are pleased to welcome back Dr.
Dolev Rafaeli as our new leader to guide us through the pursuit of
numerous business objectives. The Board and the STRATA team eagerly
anticipate collaborating closely with Dr. Rafaeli and are
enthusiastic about the exciting opportunities ahead.”
Dr. Rafaeli expressed, “As a long and
significant shareholder of the company, it is a privilege to rejoin
STRATA as its Vice-Chairman, President and CEO, as I continue to be
impressed by the Company's track record and the dedication of its
employees. I eagerly anticipate collaborating with the Board to
lead the organization as we persist in our commitment to advance
and expand our efforts with XTRAC®, VTRAC®, and TheraClear®X,
focusing on patients struggling with various dermatologic
conditions such as psoriasis, vitiligo, and acne. Together, we will
build upon the work of Mr. Moccia and steer STRATA towards even
greater accomplishments in the future.”
Mr. Moccia added, “It has been a pleasure
watching the Company grow. I take great pride in contributing to
this outstanding team and look forward to STRATA’s future
successes.”
About STRATA Skin Sciences,
Inc.
STRATA Skin Sciences is a medical
technology company dedicated to developing, commercializing and
marketing innovative products for the in-office treatment of
various dermatologic conditions such as psoriasis, vitiligo, and
acne. Its products include the XTRAC® excimer laser, VTRAC® lamp
systems, and the TheraClear®X Acne Therapy System.
STRATA is proud to offer these exciting
technologies in the U.S. through its unique Partnership Program.
STRATA’s popular partnership approach includes a fee per treatment
cost structure versus an equipment purchase, installation and use
of the device, on-site training for practice personnel, service and
maintenance of the equipment, dedicated account and customer
service associates, and co-op advertising support to help raise
awareness and promote the program within the practice.
Safe Harbor
This press release includes "forward-looking
statements" within the meaning of the Securities Litigation Reform
Act of 1995. These statements include but are not limited to the
Company’s plans, objectives, expectations and intentions and may
contain words such as “will,” “may,” “seeks,” and “expects,” that
suggest future events or trends. These statements, the Company’s
ability to launch and sell an acne treatment device and to
integrate that device into its product offerings, the Company’s
ability to develop, launch and sell products recently acquired or
to be developed in the future, the Company’s ability to develop
social media marketing campaigns, direct to dermatologist marketing
campaigns, and the Company’s ability to build a leading franchise
in dermatology and aesthetics, are based on the Company’s current
expectations and are inherently subject to significant
uncertainties and changes in circumstances. Actual results may
differ materially from the Company’s expectations due to financial,
economic, business, competitive, market, regulatory, adverse market
conditions labor supply shortages, or supply chain interruptions
resulting from the coronavirus, fiscal, and political factors,
responses, or conditions affecting the Company, the medical device
industry and our customers and patients in general, as well as more
specific risks and uncertainties set forth in the Company’s SEC
reports on Forms 10-Q and 10-K. Given such uncertainties, any or
all these forward-looking statements may prove to be incorrect or
unreliable. The statements in this press release are made as of the
date of this press release, even if subsequently made available by
the Company on its website or otherwise. The Company does not
undertake any obligation to update or revise these statements to
reflect events or circumstances occurring after the date of this
press release. The Company urges investors to carefully review its
SEC disclosures available at www.sec.gov and
www.strataskinsciences.com.
Investor Contact: Rich Cockrell
CG Capital Phone: +1 (404) 736-3838 sskn@cg.capital
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