Strata Skin Sciences announced this week that it has acquired the TheraClear acne treatment system from Theravant for $ 1 million.
Strata Skin Sciences, based in Horsham, Pa., Manufactures products to treat skin conditions, and the acquisition expands its offering to the acne treatment market.
“As we sought to expand and capitalize on our medical device treatment opportunities for dermatological conditions, we identified Theravant’s technology as the ideal solution to enter the rapidly growing acne market. The acquisition of the TheraClear system provides Strata with safe and effective technology to supplement and / or replace prescription drugs and topical creams, ”said Robert Moccia, President and CEO of Strata Skin Sciences, in a press release. hurry. “In the United States alone, an estimated 50 million patients suffer from mild to moderate acne. Theravant’s wearable device has the potential to approach this market with a revolutionary approach that can be used simply and successfully by physicians, nurses, estheticians and assistants. We look forward to leveraging our strong sales team to accelerate the growth potential of this exciting technology with a planned launch under the Strata brand by mid-year.
The acquisition follows Strata’s purchase of the dermatology business of Ra Medical in the United States in August last year.
Pursuant to the Acquisition Agreement, Strata will acquire all assets owned or controlled by Theravant related to its acne treatment for an upfront payment of $ 1 million comprising $ 500,000 in cash and $ 500,000 in common stock. . The agreement also includes certain installment payments.