Arizona device maker Ulthera is ditching its planned initial public offering in favor of a $600 million merger with larger aesthetics company Merz Inc., according to an SEC filing.
Ulthera filed for a U.S. initial public offering yesterday, saying it hopes to raise as much as $86 million when it debuts on the NASDAQ stock exchange.
Mesa, Ariz.-based Ulthera makes an ultrasound device, which is designed to use the body’s natural healing process to non-invasively lift and tighten loose skin on the neck and under the chin.
Aesthetic devices maker Ulthera won a new U.S. patent for an ultrasound-based therapy for treating sweat glands disorders, such as hyperhidrosis
The patent, titled "Methods for treatment of sweat glands" was granted by the U.S. Patent & Trademark Office late last week, according to a press release.
Arizona- based medical device company Ulthera won FDA clearance for its ultrasound platform device, which is designed to use the body’s natural healing process to non-invasively lift and tighten loose skin on the neck and under the chin.
The Ulthera System combines ultrasound imaging with focused ultrasound therapy, representing the only energy-based device with an indication to "tighten turkey necks and smooth out double-chins," the company said.
Tengion Inc. (NSDQ:TNGN) handed veteran med-tech executive John Miclot the keys to the corner office this week, following a tough third quarter that saw the resignation of former CEO Steven Nichtberger.
Nichtberger stepped down mid-August without official explanation.