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Emerges from Chapter 11 as a stronger company, well positioned for long-term growth
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Continuing to provide best-in-class aesthetic and dermatology solutions to customers
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BRISBANE, Calif. — CUTERA, INC., (“Cutera” or “the Company”), a leading provider of aesthetic and dermatology solutions, today announced that the Company has successfully completed its financial restructuring process and emerged from Chapter 11.
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Cutera emerges with a significantly stronger balance sheet, well positioned to drive innovation and growth. Through this process, Cutera has reduced its debt by nearly $400 million, or over 90%, and raised $65 million in new money financing from its existing lenders.
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“Today marks a significant milestone for Cutera, as we strengthen the foundation we’ve built for over 25 years, so that we can serve the medical aesthetics industry in even greater ways in the years to come,” said Taylor Harris, CEO of Cutera. “With an enhanced capital structure and the support and confidence of our new owners, we are better positioned than ever to advance our growth strategy, drive innovation, and deliver industry-leading solutions and support to our customers all around the globe. We are incredibly grateful to our employees for their dedication, to our customers and partners for their loyalty, and to our new owners for their partnership in building a global powerhouse in aesthetics and dermatology.”
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In connection with emergence, Cutera will operate as a private company, backed by a consortium of leading investment firms.
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Advisors
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Cutera is advised in this matter by Ropes & Gray LLP and Hunton Andrews Kurth LLP as legal counsel, Houlihan Lokey as investment banker, and FTI Consulting as financial advisor. The group of the Company’s lenders is advised in this matter by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Centerview Partners as investment banker.
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About Cutera, Inc.
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Cutera is a leading provider of aesthetic and dermatology solutions for practitioners worldwide. For over 25 years, Cutera has strived to improve lives through medical aesthetic technologies that are driven by science and powered through partnerships. For more information, call 1-888-4-CUTERA or visit Cutera.com.
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Contacts
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Cutera Media:
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Erica Dement, Sr. Director of North America Marketing
[email protected]
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English (US)