STRATA Skin Sciences Announces Renewal of Exclusive Distribution Agreements in China and Japan
09 April 2024 - 10:30PM
STRATA Skin Sciences, Inc. (“STRATA” or the “Company”) (NASDAQ:
SSKN), a medical technology company dedicated to developing,
commercializing, and marketing innovative products for the
treatment of dermatologic conditions, announces the renewal of two
distinct distribution agreements in international territories – one
with the current exclusive distributor in China and a second with
the current exclusive distributor in Japan. Terms of each of the
distribution agreements are for three years and carry minimum unit
placements and/or purchases of the XTRAC and VTRAC devices.
“The renewal of these exclusive distribution agreements in China
and Japan, when coupled with the renewal of the distribution
agreement in South Korea announced in December 2023, brings
improved visibility to the international segment of our business,”
stated Dr. Dolev Rafaeli, STRATA’s President and Chief Executive
Officer. “International revenue in 2023 was nearly a third of our
total revenue, and as we focus on additional opportunities for
growth outside of the U.S., we are gratified that our long-standing
exclusive distributors in these three key territories continue to
provide value through our innovative product offerings in their
respective dermatology markets. We look forward to continued
mutually beneficial relations with each and leveraging our
installed base around the world, as service and parts sales are an
important aspect of our international business.”
About STRATA Skin Sciences, Inc.STRATA Skin
Sciences is a medical technology company dedicated to developing,
commercializing and marketing innovative products for the in-office
treatment of various dermatologic conditions such as psoriasis,
vitiligo, and acne. Its products include the XTRAC® excimer
laser, VTRAC® lamp systems, and the TheraClear®X Acne Therapy
System. STRATA is proud to offer these exciting technologies in the
U.S. through its unique Partnership Program. STRATA’s popular
partnership approach includes a fee per treatment cost structure
versus an equipment purchase, installation and use of the device,
on-site training for practice personnel, service and maintenance of
the equipment, dedicated account and customer service associates,
and co-op advertising support to help raise awareness and promote
the program within the practice.
Safe HarborThis press release includes
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995. These statements include but are not
limited to the Company’s plans, objectives, expectations and
intentions and may contain words such as “will,” “may,” “seeks,”
and “expects,” that suggest future events or trends. These
statements, the Company’s ability to launch and sell an acne
treatment device and to integrate that device into its product
offerings, the Company’s ability to develop, launch and sell
products recently acquired or to be developed in the future, the
Company’s ability to develop social media marketing campaigns,
direct to dermatologist marketing campaigns, and the Company’s
ability to build a leading franchise in dermatology and aesthetics,
are based on the Company’s current expectations and are inherently
subject to significant uncertainties and changes in circumstances.
Actual results may differ materially from the Company’s
expectations due to financial, economic, business, competitive,
market, regulatory, adverse market conditions labor supply
shortages, or supply chain interruptions resulting from fiscal,
political factors, international conflicts, responses, or
conditions affecting the Company, the medical device industry and
our customers and patients in general, as well as more specific
risks and uncertainties set forth in the Company’s SEC reports on
Forms 10-Q and 10-K. Given such uncertainties, any or all these
forward-looking statements may prove to be incorrect or unreliable.
The statements in this press release are made as of the date of
this press release, even if subsequently made available by the
Company on its website or otherwise. The Company does not undertake
any obligation to update or revise these statements to reflect
events or circumstances occurring after the date of this press
release. The Company urges investors to carefully review its SEC
disclosures available
at www.sec.gov and www.strataskinsciences.com.
Investor Contact:CORE
IR516-222-2560ir@strataskin.com
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