SANTA CLARA, Calif., March 31 /PRNewswire/ -- Silicon Valley Bank, financial partner to technology and life science companies of all sizes worldwide, added a new $10 million term loan to existing credit facilities for Solta Medical , a global leader in the medical aesthetics market. The additional term loan increases Solta Medical's credit facilities with Silicon Valley Bank to a total of $22 million. Solta Medical would expect to use the additional facility to pursue strategic initiatives.
"Silicon Valley Bank is an important partner in our continued success," said Stephen J. Fanning, Chairman of the Board, President and CEO of Solta Medical, Inc. "This additional financing will give us the flexibility we need to address potential growth opportunities."
Silicon Valley Bank's experienced life science bankers offer a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide.
Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
The Company offers products to address a range of skin issues under the industry's three premier brands: Thermage(R), Fraxel(R) and Isolaz(TM). Thermage is an innovative, non-invasive radiofrequency procedure for tightening and contouring skin. As the leader in fractional laser technology, Fraxel delivers minimally invasive clinical solutions to resurface aging and sun damaged skin. Isolaz is the only laser or light based system for the treatment of inflammatory acne, comedonal acne, pustular acne, and mild-to-moderate inflammatory acne. Since 2002, approximately one million Thermage, Fraxel and Isolaz procedures have been performed in over 100 countries. For more information about Solta Medical, call 1-877-782-2286 or log on to http://www.solta.com/.
CONTACT: Carrie Merritt of SVB Financial Group, +1-503-574-3705,
cmerritt@svb.com; or Jack Glenn, Chief Financial Officer of Solta Medical,
Inc., +1-510-786-6890; or Doug Sherk of EVC Group, +1-415-896-6820,
dsherk@evcgroup.com, for Solta Medical, Inc.
Web site: http://www.svb.com/
http://www.solta.com/
