- Cutera Inc. successfully emerges from Chapter 11 bankruptcy with a 90% reduction in debt.
- The company raises $65 million in new financing from existing lenders.
- Cutera transitions to a private company, backed by top investment firms.
Cutera Inc. (CUTR, Financial), a prominent player in the aesthetic and dermatology solutions sector, has announced its successful emergence from Chapter 11 bankruptcy, marking a new beginning for the company with a substantially improved financial standing. Following the restructuring, Cutera has slashed its debt by over 90%, amounting to nearly $400 million, and secured $65 million in new funding from its current lenders. This financial overhaul positions Cutera for enhanced innovation and sustained growth in the medical aesthetics industry.
"Today marks a significant milestone for Cutera," stated Taylor Harris, CEO of Cutera. "With an enhanced capital structure and the backing of our new owners, we are better positioned than ever to advance our growth strategy, drive innovation, and deliver industry-leading solutions and support to our global customers."
As part of its emergence from bankruptcy proceedings, Cutera will now operate as a privately held entity, supported by a consortium of leading investment firms. Legal and financial advisory for the restructuring was provided by Ropes & Gray LLP, Hunton Andrews Kurth LLP, Houlihan Lokey, and FTI Consulting. The company's lenders were advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and Centerview Partners.
Cutera Inc., headquartered in Brisbane, California, has been dedicated to advancing aesthetic and dermatology solutions for over 25 years, catering to practitioners worldwide. The company remains committed to its mission of improving lives through innovative medical technologies.
