STRATA Skin Sciences, Inc. Announces Successful Renewal of Note Payable
December 28 2020 - 8:00AM
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) (“STRATA” or the
“Company”), a medical technology company in Dermatology and Plastic
Surgery dedicated to developing, commercializing, and marketing
innovative products for the treatment of dermatologic conditions,
today announced that it has renewed its existing debt with a lower
interest one-year cash secured loan facility with Israel Discount
Bank of New York, a multinational commercial bank. The new loan is
at a fixed interest rate of 1.40% and is due December 30, 2021.
About STRATA Skin Sciences,
Inc.STRATA Skin Sciences is a medical technology company
in Dermatology and Plastic Surgery dedicated to developing,
commercializing and marketing innovative products for the treatment
of dermatologic conditions. Its products include the XTRAC® excimer
laser and VTRAC® lamp systems utilized in the treatment of
psoriasis, vitiligo and various other skin conditions.
The Company’s proprietary XTRAC® excimer laser
delivers a highly targeted therapeutic beam of UVB light to treat
psoriasis, vitiligo, eczema, atopic dermatitis and leukoderma,
diseases, which impact over 35 million patients in the United
States alone. The technology is covered by multiple patents,
including exclusive rights for patents for the delivery of
treatments to vitiligo patients.
STRATA’s unique business model leverages
targeted Direct to Consumer (DTC) advertising to generate awareness
and utilizes its in-house call center and insurance advocacy teams
to increase volume for the Company’s partner dermatology
clinics.
The XTRAC business has used this proven DTC
model to grow its domestic dermatology partner network to over 813
clinics, with a worldwide installed base of over 2,000 devices. The
Company is able to offer 90% of DTC patients an introduction to
physicians prescribing a reimbursable solution, using XTRAC, within
a 10-mile radius of their house. The Company is a leader in
dermatology in-clinic business generation for its partners.
Investor Contact
Leigh Salvo |
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(415) 937-5404 |
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ir@strataskin.com |
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