STRATA Skin Sciences Announces XTRAC® Comeback Placements in the First Quarter of 2024
STRATA Skin Sciences, Inc. announces the placement of six XTRAC® devices with dermatology clinics in the first quarter of 2024 that are considered 'comebacks.' These placements represent clinics rejoining STRATA's partner program after previously terminating their relationship, showcasing the value proposition of the program. With a focus on expanding device utilization and regaining lapsed customers, STRATA aims to grow its average revenue per device through increased marketing activities.
Successful placement of six XTRAC® devices in dermatology clinics during the first quarter of 2024, including comebacks from previously terminated relationships.
Recognition of STRATA's partner program as a better value proposition by clinics reassessing their options.
Confirmation of the effectiveness and appeal of STRATA's laser devices through clinic decisions to rejoin the program.
Plans to expand the utilization of existing devices in the domestic installed base through direct-to-consumer marketing activities to boost revenue.
Commitment to regaining previously lapsed customers, indicating a proactive approach to customer retention and growth.
- None.
HORSHAM, Pa., April 30, 2024 (GLOBE NEWSWIRE) -- 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 placement of six XTRAC® devices with dermatology clinics in the first quarter of 2024 that are considered “comebacks.” Comebacks are excimer placements with dermatology clinics that were previously active in the Company’s partner program, then terminated their relationship with the Company at some point in the past but have now decided to return to STRATA under the partner program. Among these comebacks are Henry Ford Health System in Detroit, Integrated Dermatology Group, and several practices from the Schweiger Dermatology Group.
“It is always rewarding to have our laser devices placed in dermatology clinics, but comebacks are especially gratifying, given they represent an active assessment of costs and benefits by a clinic to determine if the STRATA partner program does, in fact, represent a better value proposition for their practice,” said STRATA’s President and CEO Dr. Dolev Rafaeli. “For a previous customer to have tried other treatment service offerings only to realize that our STRATA program is a better fit is an important validation of our partner program. With these six comeback wins, we again welcome Henry Ford, Integrated Dermatology Group, and some of the practices in the Schweiger Dermatology Group back as STRATA partners. We look forward to expanding the utilization of these five XTRAC® devices, along with the other 900+ devices in our domestic installed base, through increased direct-to-consumer marketing activities in 2024 and beyond in order to grow our average revenue per device. Additionally, we will continue to make efforts to regain previously lapsed customers.”
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 Harbor
This 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 products recently acquired or to be developed in the future, the Company’s ability to develop social media marketing campaigns, direct to consumer 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 IR
516-222-2560
IR@strataskin.com
