Solta Medical Completes Acquisition of Aesthera Corporation
March 01 2010 - 6:00AM
PR Newswire (US)
HAYWARD, Calif., March 1 /PRNewswire-FirstCall/ -- Solta Medical,
Inc. , a global leader in the medical aesthetics market, today
announced the successful completion of its acquisition of Aesthera
Corporation. The transaction brings together the Isolaz(TM) brand
of products for the treatment of acne with Solta's leading brands
for skin tightening and skin resurfacing, Thermage(TM) and
Fraxel(TM). "We are delighted with the swift completion of the
acquisition of Aesthera which we announced earlier this week," said
Stephen J. Fanning, Chairman of the Board, President, and CEO of
Solta Medical. "We look forward to successfully integrating the
Isolaz brand into our global sales and marketing organization, and
providing dermatologists and aesthetic physicians with yet another
superior solution for their patients." Under the agreement, Solta
acquired Aesthera for consideration of $5.25 million in Solta
common stock and cash, with potential additional base line
milestones of $750,000 for a consideration of $6.0 million. In
addition, there are $10 million of stretch milestones which would
be paid to Aesthera shareholders if Aesthera achieves revenue
ranging from $14 to $21 million in the twelve months beginning
April 1, 2010. Excluding acquisition and integration related
charges, the transaction is expected to be accretive to Solta
Medical's earnings within twelve months, and becomes increasingly
accretive to Solta Medical shareholders as Aesthera achieves the
higher milestone revenue and payments. About Solta Medical, Inc.
Solta Medical, Inc. 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 ® and Fraxel ®. 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, over 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/. Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on management's current,
preliminary expectations and are subject to risks and
uncertainties, which may cause Solta Medical's actual results to
differ materially from the statements contained herein. Factors
that might cause such a difference include the possibility that the
market for the sale of these new products and initiatives does not
develop as expected and the remaining risks and uncertainties with
the integration process, and the risks relating to economic
conditions and consumer and physician confidence causing changes in
consumer and physician spending habits that affect demand for
Solta's products and treatments. Further information on potential
risk factors that could affect Solta Medical's business and its
financial results are detailed in its Form 10-K for the year ended
December 31, 2008, its Form10-Q for the quarter ended September 30,
2009, and other reports as filed from time to time with the
Securities and Exchange Commission. Undue reliance should not be
placed on forward-looking statements, especially guidance on future
financial performance, which speaks only as of the date they are
made. Solta Medical undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date they were made, or to reflect the
occurrence of unanticipated events. Web Site: http://www.solta.com/
DATASOURCE: Solta Medical, Inc. CONTACT: Jack Glenn, Chief
Financial Officer of Solta Medical, Inc.,+1-510-786-6890; or
investors, Doug Sherk, dsherk@evcgroup.com, EVC
Group,+1-415-896-6820, for Solta Medical, Inc. Web Site:
http://www.solta.com/
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