STRATA Skin Sciences, Inc. Announces Successful Completion of Debt Refinancing
January 06, 2020 at 12:30 pm
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STRATA Skin Sciences, Inc. announced that it has closed a refinancing of its existing debt with a lower interest one-year cash-secured loan facility with Israel Discount Bank of New York, a multi-national commercial bank. The new loan, at a fixed interest rate of 2.79%, significantly lowers the Company’s interest expense for 2020. The proceeds of the new loan facility were used to repay the Company’s outstanding term note with MidCap Financial.
STRATA Skin Sciences, Inc. is a medical technology company in dermatology. The Company is engaged in developing, commercializing and marketing products for the treatment of dermatologic conditions. The Company operates through two segments: Dermatology Recurring Procedures and Dermatology Procedures Equipment. The Companyâs products include the XTRAC and Pharos excimer lasers and VTRAC lamp systems utilized in the treatment of psoriasis, vitiligo and various other skin conditions. Its products also include the TheraClear Acne Therapy System utilized in the treatment of mild to moderate inflammatory, comedonal and pustular acne. The XTRAC and Pharos excimer laser technology emits highly concentrated ultraviolet (UV) light targeted primarily towards autoimmune dermatological skin disorders, such as psoriasis, vitiligo, atopic dermatitis, and eczema, among others. VTRAC is a UV light lamp system that works in much the same way as the XTRAC.
STRATA SKIN SCIENCES, INC. 
