06.24.15
Horsham, Pa.-based PhotoMedex Inc. has sold its Xtra and Vtrac psoriasis and vitiligo treatment businesses to Irvington, N.Y.-based Mela Sciences Inc. for $42.5 million in cash. With this sale, the company has paid off in full all outstanding debt, which totaled $40.1 million as of June 22.
Xtrac and Vtrac are both laser skin treatment devices that treat skin ailments such as psoriasis and vitiligo.
“PhotoMedex is now able to focus solely on our core consumer and skincare businesses, including the No!no!, Kyrobak and Neova brands, without the burden of debt payments and the restrictions of forbearance agreements,” saidCEO of PhotoMedex Dolev Rafaeli, Ph.D. “These highly-regarded and established brands are sold worldwide via direct-to-consumer, retail and distribution channels, and through more than 2,400 U.S. dermatology and plastic surgery offices.”
PhotoMedex makes technology for skin health.
Xtrac and Vtrac are both laser skin treatment devices that treat skin ailments such as psoriasis and vitiligo.
“PhotoMedex is now able to focus solely on our core consumer and skincare businesses, including the No!no!, Kyrobak and Neova brands, without the burden of debt payments and the restrictions of forbearance agreements,” saidCEO of PhotoMedex Dolev Rafaeli, Ph.D. “These highly-regarded and established brands are sold worldwide via direct-to-consumer, retail and distribution channels, and through more than 2,400 U.S. dermatology and plastic surgery offices.”
PhotoMedex makes technology for skin health.