Soliton Appoints Aesthetic Executive Veteran Brad Hauser as President and Chief Executive Officer in Preparation for Commercial Launch
Soliton, Inc. (Nasdaq: SOLY) announced the appointment of Brad A. Hauser as President and CEO, effective immediately. Hauser brings extensive experience from his tenure at Allergan Aesthetics and is expected to enhance the company's commercialization efforts for its proprietary RAP device. Co-Founder Christopher Capelli transitions to Vice Chairman while continuing R&D leadership. The company is focused on launching its FDA-cleared device aimed at faster tattoo removal and a non-invasive solution for cellulite, currently pending clearance.
- Brad A. Hauser's extensive experience in aesthetics, especially with CoolSculpting, positions him well to lead commercialization efforts.
- The RAP device has potential to lower costs for patients and increase profitability for practitioners compared to existing methods.
- Concerns about continuity and experience gaps may arise from the leadership transition.
HOUSTON, Nov. 2, 2020 /PRNewswire/ -- Soliton, Inc., (Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device company with a novel and proprietary aesthetic platform technology, today announced the appointment of Brad A. Hauser as President and Chief Executive Officer of Soliton. He most recently served as Vice President, R&D and General Manager for CoolSculpting at Allergan Aesthetics, an AbbVie Company, since Allergan's April 2017 acquisition of ZELTIQ Aesthetics, Inc.
"We are extremely excited to welcome Brad Hauser as CEO. We believe this is a monumental and pivotal appointment for the future of Soliton given Brad's well-established reputation in the aesthetics industry. Brad's deep expertise in aesthetics and his leadership in the commercialization of CoolSculpting serve as a powerful endorsement for the potential of the Soliton RAP device. As a long-standing member of our Board, Brad has provided excellent guidance and insight for the Soliton pipeline. We are very encouraged by the commercialization experience and skill set he brings to the CEO role," Walter Klemp, Soliton Co-Founder and Executive Chairman commented.
Mr. Hauser's extensive knowledge of the aesthetic market stems from his many years of valuable industry experience. Prior to Allergan's acquisition of ZELTIQ, Mr. Hauser held a number of positions for CoolSculpting including Senior Vice President of Research and Development and Vice President of Product and Clinical Strategy. Previously, Mr. Hauser held multiple leadership roles in the aesthetic industry, including Executive Vice President of Commercial Operations at Cutera, Director of Research and Development at Medicis, and Managing Director of Product and Clinical Marketing at Solta Medical. Mr. Hauser received his Bachelor of Arts in Human Biology from Stanford University. He joined Soliton's Board of Directors in June 2018.
"I am thrilled to be joining the Soliton team. We are at a very exciting point in the organization's life cycle and are gearing up to launch an innovative technology that has the potential to change how the industry addresses two real patient needs: faster, effective tattoo removal and a completely non-invasive solution for cellulite reduction, which is currently pending FDA clearance," said Mr. Hauser.
As part of the organizational transition, Soliton Co-Founder and Chief Scientific Officer Christopher Capelli, M.D. will advance from the CEO role to Vice Chairman of the Company's Board of Directors and continue to lead Soliton's research and development efforts.
Dr. Capelli expressed, "The appointment of Brad as CEO is a great benefit for Soliton, ensuring the Company is well positioned to execute its commercial strategies in the aesthetic space. His years of leadership have earned the respect of the entire aesthetics community, giving us the added ability to attract top talent for our organization as we grow the commercial side of our business. With Brad leading the commercialization effort, I can remain focused on the continued development of the Soliton technology platform."
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About Soliton, Inc.
Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of MD Anderson Cancer Center. The Company's first FDA cleared commercial product will use rapid pulses of acoustic shockwaves as an accessory to lasers for the removal of unwanted tattoos. The Company is based in Houston, Texas, and is actively engaged in bringing the Rapid Acoustic Pulse ("RAP") device to the market. The Company believes this "Soliton" method has the potential to lower tattoo removal costs for patients, while increasing profitability to practitioners, compared to current laser removal methods. Soliton has filed a 510(k) application with the FDA for clearance of its RAP device to improve the appearance of cellulite and is investigating potential additional capabilities of the RAP technology. The device is currently cleared in the United States only for use in tattoo removal and is not yet cleared for use to address cellulite.
For more information about the Company, please visit: http://www.soliton.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, our ability to hire additional commercial staff and launch our products into the aesthetics market. These statements relate to future events, future expectations, plans and prospects. Although Soliton believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results or outcomes may prove to be materially different from the expectations expressed or implied by such forward-looking statements. Soliton has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' "would," ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed in our filings with the Securities and Exchange Commission ("SEC"), including under the heading " Risk Factors" in the Form 10-K for year ended December 31, 2019 filed with the SEC and as updated in our Form 10-Q filings and in our other filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. Soliton undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
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SOURCE Soliton, Inc.
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