Cutera Partners with Synchrony to Provide Financing Options to Dermatology Patients for Innovative New Acne Treatment

Rhea-AI Summary

Cutera and Synchrony have formed an exclusive partnership to enhance patient financing for dermatology practices in the U.S., facilitating access to AviClear, the first FDA-cleared laser treatment for acne. This collaboration aims to alleviate cost concerns for millions of acne sufferers by allowing practices to offer CareCredit payment options, making treatments more accessible. This initiative is expected to boost patient confidence and address the emotional impact of acne, providing a valuable resource for families seeking effective acne solutions.

Positive

• Exclusive partnership with Synchrony enhances patient financing options.
• AviClear is the first FDA-cleared device for acne treatment, addressing a significant market need.

Negative

• None.

Synchrony’s CareCredit enables flexible financing solutions for patients at dermatology practices in the CareCredit network offering Cutera’s AviClear™ laser acne treatment

Exclusive partnership aims to help the millions who suffer with acne gain access to clear skin

BRISBANE, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)-- CUTERA, INC. (Nasdaq: CUTR), a leading provider of dermatological solutions, and Synchrony (NYSE: SYF), a leading provider of consumer payment and financing solutions, today announce an exclusive partnership to expand patient financing options to dermatology practices across the United States. Cutera’s AviClear is the first and only device cleared by the FDA for the treatment of mild, moderate and severe acne. Dermatologists offering AviClear will have the option to accept Synchrony’s CareCredit credit card, providing the millions of acne sufferers who seek treatment annually with flexible financing options.

By providing patients with access to CareCredit’s medical financing, dermatology practices will be able to offer patients, or their parents, a convenient monthly payment option to help make out-of-pocket expenses more manageable.

“We are excited to join forces with Synchrony to provide our customers with this unique and valuable financing resource that will improve access to a prescription-free acne treatment option, one that is safe and comfortable with strong, long-term efficacy¹,” said Steve Kreider, Senior Vice President of Global Marketing, Cutera. “The ability to offer patient financing as part of our comprehensive support through the Avi360™ partnership program will enable more families to take advantage of the AviClear treatment - without worries of insurance coverage - to help improve their confidence and reduce the emotional toll of acne.”

Synchrony’s CareCredit credit card is a way for people to pay for treatments not covered by insurance, including elective procedures, copays, deductibles and coinsurance. Cardholders can choose from a variety of financing options. Patients can conveniently see if they prequalify for the CareCredit credit card with no impact to their credit bureau score at their doctor’s office, on their mobile device, or on their computer.

“Oftentimes, patients delay or decline recommended treatments because of cost concerns,” said Jill Behm, General Manager, Cosmetic, at Synchrony. “By partnering with Cutera and dermatology practices across the United States that offer treatment with AviClear, we hope to remove this concern by offering special financing options for patients to be able to move forward with needed care.”

AviClear is expected to be made available to physicians throughout the United States over the course of 2022. Doctors and consumers are encouraged to visit www.AviClear.com and sign up for updates on product availability.

About Cutera, Inc.
Brisbane, California-based Cutera is a leading laser and other energy-based systems provider for dermatologists and aesthetic practitioners worldwide. Since 1998, Cutera has been developing innovative, easy-to-use products that harness the power of science and nature to enable physicians and other qualified practitioners to offer safe and effective treatments to their patients. For more information, call +1 415-657-5500 or 1-888-4CUTERA or visit www.cutera.com.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers. Synchrony is changing what’s possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions. For more information, visit www.synchrony.com and Twitter: @Synchrony.

References

1. Data on file, FDA clearance study. Cutera, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005387/en/

PR CONTACTS:



Cutera: Bridget Callahan, EvolveMKD, Cutera@EvolveMKD.com



Synchrony: Michelle Blaya Romero, Michelle.Blaya@syf.com

Source: Cutera, Inc.

FAQ

What does the partnership between Cutera and Synchrony entail?

The partnership aims to enhance patient financing for dermatology practices, allowing them to offer CareCredit payment options for AviClear treatments.

What is AviClear and its significance?

AviClear is the first FDA-cleared laser treatment for mild, moderate, and severe acne, providing effective solutions for acne sufferers.

How does CareCredit benefit patients seeking acne treatment?

CareCredit provides flexible financing options that help patients manage out-of-pocket expenses for treatments not covered by insurance.

When is AviClear expected to be available to physicians?

AviClear is expected to be made available to physicians throughout the United States over the course of 2022.

What impact does this partnership have on Cutera's market position?

The partnership with Synchrony could improve Cutera's market position by increasing access to their innovative acne treatment solutions.