STRATA Skin Sciences Announces Successful Amendment to Credit Agreement with MidCap Financial

–Amends certain financial covenants to enhance liquidity and financial flexibility– 
–Ensures alignment with the Company’s current and future business operations–

HORSHAM, Pa., Feb. 26, 2024 (GLOBE NEWSWIRE) -- STRATA Skin Sciences, Inc. (NASDAQ: SSKN) (“STRATA” or “the Company”), a medical technology company dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions, today announced the successful amendment of its credit and security agreement with MidCap Financial Trust (“MidCap”) effective February 20, 2024.

This amendment, recognized as Amendment No. 4 (“Amendment”), removes the minimum revenue requirements for 2023 and introduces future financial covenants. The Amendment ensures alignment with the Company’s current and future business projections by supporting operational and capital needs.

Dolev Rafaeli, STRATA’s Vice Chairman and Chief Executive Officer, remarked, “This amendment signifies the strength of our partnership with MidCap Financial Trust and our lenders. Their support enables us to continue advancing our mission to deliver innovative dermatological solutions to our customers. We are confident that these amended terms will provide us with the flexibility to execute our strategic initiatives and drive long-term value for our stakeholders.”

The Company has filed a copy of the amendment on Form 8k on February 21, 2024.

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 TheraClearX 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.