Solta Medical, Inc. Secures $9M Credit Facility from Silicon Valley Bank
March 11 2009 - 6:17PM
PR Newswire (US)
HAYWARD, Calif., March 11 /PRNewswire-FirstCall/ -- Solta Medical,
Inc. (NASDAQ:SLTM), a global leader in the medical aesthetics
market, today announced that Silicon Valley Bank, a member company
of SVB Financial Group (NASDAQ:SIVB), has provided the company with
a $9 million credit facility. "We are very pleased with this credit
facility, as it strengthens our ability to pursue our strategic
initiatives in the aesthetic marketplace," said Stephen J. Fanning,
Chairman of the Board, President and CEO of Solta Medical, Inc.
"SVB is proud to be Solta's long-time financial partner," said Ben
Colombo, Senior Relationship Manager from Silicon Valley Bank. "We
are fully committed to continuing to provide Solta the resources it
needs to be successful." A description of the terms and conditions
of the credit arrangements and a copy of the related agreement are
available in the form 8-K filed today by Solta Medical. ABOUT SOLTA
MEDICAL Solta Medical is a global leader in the medical aesthetics
market providing innovative, safe and effective anti-aging
solutions for patients that enhance and expand the practice of
medical aesthetics for physicians. The company offers products to
address aging skin under the industry's two premier brands:
Thermage(R) and Fraxel(R). Thermage is an innovative, non-invasive
radiofrequency procedure for tightening and contouring skin. As the
leader in fractional laser technology, Fraxel delivers minimally
invasive clinical solutions to resurface aging and sun damaged
skin. Since 2002, approximately one million Thermage and Fraxel
procedures have been performed in nearly 80 countries. Thermage and
Fraxel are the perfect complement for any aesthetic practice. For
more information about Solta Medical, call 1-877-782-2286 or log on
to http://www.solta.com/. ABOUT SILICON VALLEY BANK Silicon Valley
Bank is the premier commercial bank for companies in the
technology, life science, venture capital/private equity and
premium wine industries. SVB provides a comprehensive suite of
financing solutions, treasury management, corporate investment and
international banking services to its clients worldwide. Through
its focus on specialized markets and extensive knowledge of the
people and business issues driving them, Silicon Valley Bank
provides a level of service and partnership that measurably impacts
its clients' success. Founded in 1983 and headquartered in Santa
Clara, Calif., the company serves clients around the world through
27 U.S. offices and international operations in China, India,
Israel and the United Kingdom. Silicon Valley Bank is a member of
global financial services firm SVB Financial Group (NASDAQ:SIVB),
with SVB Analytics, SVB Capital, SVB Global and SVB Private Client
Services. More information on the company can be found at
http://www.svb.com/. Silicon Valley Bank is the California bank
subsidiary and the commercial banking operation of SVB Financial
Group. Banking services are provided by Silicon Valley Bank, a
member of the FDIC and the Federal Reserve. SVB Private Client
Services is a division of Silicon Valley Bank. SVB Financial Group
is also a member of the Federal Reserve System. DATASOURCE: Solta
Medical, Inc. CONTACT: Jack Glenn, Chief Financial Officer of Solta
Medical, Inc., +1-510-786-6890 Web Site: http://www.solta.com/
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