SANTA CLARA, Calif.,
March 31 /PRNewswire/ -- Silicon
Valley Bank, financial partner to technology and life science
companies of all sizes worldwide, added a new $10 million term loan to existing credit
facilities for Solta Medical (Nasdaq: SLTM), a global leader in the
medical aesthetics market. The additional term loan increases Solta
Medical's credit facilities with Silicon Valley Bank to a total of
$22 million. Solta Medical would
expect to use the additional facility to pursue strategic
initiatives.
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"Silicon Valley Bank is an important partner in our continued
success," said Stephen J. Fanning,
Chairman of the Board, President and CEO of Solta Medical, Inc.
"This additional financing will give us the flexibility we need to
address potential growth opportunities."
"As a client of Silicon Valley Bank for nearly 10 years, we are
pleased to continue to support Solta Medical with this latest
credit facility," said Ben Colombo,
senior relationship manager from Silicon Valley Bank. "We continue
to focus on working with companies from their earliest stages
through their growth into large, global corporations, while
providing the right financial solutions all along the way. As Solta
Medical continues to grow, we will seek to provide the best
solutions to help meet the company's goals."
Silicon Valley Bank's experienced life science bankers offer a
comprehensive suite of financing solutions, treasury management,
corporate investment and international banking services to its
clients worldwide.
About Silicon Valley Bank
Silicon Valley Bank provides commercial banking services to
emerging growth and mature companies in the technology, life
science, private equity and premium wine industries. 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 five
international operations. Silicon Valley Bank is a member of global
financial services firm SVB Financial Group (Nasdaq: SIVB), along
with SVB Analytics, SVB Capital, SVB Global and SVB Private Client
Services. More information on the company can be found at
www.svb.com.
Banking services are provided by Silicon Valley Bank, a
member of the FDIC and the Federal Reserve System. SVB Financial
Group is also a member of the Federal Reserve System.
About Solta Medical, Inc.
Solta Medical, Inc. (Nasdaq: SLTM) is a global leader in the
medical aesthetics market providing innovative, safe, and effective
solutions for patients which enhance and expand the practice of
medical aesthetics for physicians.
The Company offers products to address a range of skin issues
under the industry's three premier brands: Thermage(R), Fraxel(R)
and Isolaz(TM). 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. Isolaz is the only laser or light based system for the
treatment of inflammatory acne, comedonal acne, pustular acne, and
mild-to-moderate inflammatory acne. Since 2002, approximately one
million Thermage, Fraxel and Isolaz procedures have been performed
in over 100 countries. For more information about Solta Medical,
call 1-877-782-2286 or log on to http://www.solta.com/.
SOURCE Silicon Valley Bank