Solta Medical, Inc. To Reduce Workforce, Explore Sale In Restructuring
Published: Nov 12, 2013
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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