Solta Medical, Inc. To Reduce Workforce, Explore Sale In Restructuring
Solta Medical Inc. unveiled restructuring plans to improve its financial performance, and has hired an advisor to help evaluate strategic alternatives, including a possible sale or merger of the medical aesthetics device maker. Investors cheered the news, sending shares up 17% to $2.15 in after-hours trading. Solta Medical's restructuring plan, which includes a reduction in work force, is intended to cut annual expenses by $12 million and to help the company achieve year-over-year revenue growth.
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