Solta Medical Gets A Facelift – Stocks To Watch
10/15/2009 6:58:31 AM(RTTNews) Anti-aging solutions provider Solta Medical, Inc. (SLTM) said the FDA approved its aesthetic laser device to clear pigmentation and other superficial skin conditions both on face and large body areas, all in a single treatment.
Laser skin resurfacing procedures are largely limited to the face, but the approval for the new non-ablative Fraxel re:store Dual 1927 nanometer (nm) wavelength laser system extends the usage to large areas of the body, the company noted, adding that the device also increases procedure speed by 25% with newly improved scanner design.
The Fraxel re:store Dual 1927 nm laser system is actually an enhancement of the already-approved Fraxel re:store 1550 nm laser system that is used for treating pigmented lesions, acne scars, surgical scars and other skin conditions.
Solta Medical, Inc. makes and sells aesthetic energy devices to address aging skin. The company was incorporated in 1996 as Thermage, Inc. and commercially launched its first products – the Thermage system -- in 2002 for treating periorbital wrinkles or wrinkles around the eyes.
In 2004, the system got clearance for the treatment of facial wrinkles and skin wrinkles and later in 2005 for treating wrinkles in any part of the body. In 2006, the company got approval to market the system for the temporary improvement in the appearance of cellulite and in 2007 for treating wrinkles in the upper and lower eyelids.
Subsequent to the acquisition of Reliant Technologies, Inc. on December 23, 2008, the company changed its name to Solta Medical, inheriting the Fraxel laser, a facial rejuvenation device that helps tighten up the skin, increase collagen production and reduce the appearance of acne scars and age spots.
The latest Thermage CPT system launched in August this year by the company is a non-surgical, skin tightening and body contouring technology.
The company derives its revenue primarily from the sale of systems, treatment tips and consumables.
Sale of treatment tips and consumables represented 71% of revenues in fiscal 2007, 73% in 2008, and 48% in the first half of 2009. System sales accounted for 26% of revenues in 2007, 23% in 2008, and 43% in the first half of 2009. The rest of the revenue stems from product service, research and development and shipping.
As of June 30, 2009, the company had sold 2,760 Thermage systems and 2,170 Fraxel systems and over 668,000 treatment tips.
Geographically, the U.S. represented 52% of revenues in fiscal 2007 and 2008 and 43% in the first half of 2009, while sales outside the U.S. accounted for 48% of revenues in 2007 and 2008 and 57% in the first half of 2009.
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