HAYWARD, Calif. and FRAMINGHAM, Mass., Sept. 12, 2012 /PRNewswire/ -- Solta Medical, Inc. (NASDAQ: SLTM) and BTL Industries, Inc. today announced that they have reached an agreement involving certain Thermage® patents held by Solta Medical.
Terms of the Agreement
BTL agrees that the disputed patents regarding Thermage are valid and enforceable. As a result of the agreement, Solta Medical has granted BTL a covenant not to sue under certain of its skin tightening patents and patent applications for BTL's manufacture and sale of its Exilis® product. BTL agreed to pay Solta Medical a 5% royalty on its past and future sales of Exilis products in the US. Royalties owed on past sales through June 30, 2012 are approximately $1 million. Payment for one-half of the past royalties owed will occur on or before September 30, 2012 followed by two equal payments for the remaining balance on December 31, 2012 and March 31, 2013. Royalties on sales after June 30, 2012 will be paid within sixty days of the end of each calendar quarter. Additional terms of the settlement remain confidential.
"We are pleased we were able to reach an amicable agreement without litigation while protecting our proprietary position in skin tightening technology. The agreement once again reaffirms the value of our patents," said Stephen J. Fanning, Chairman, President and CEO of Solta Medical, Inc. "Solta Medical has invested more than 16 years developing, validating, and creating a strong IP portfolio and we will continue to invest in the scientific research needed to develop new, non-invasive aesthetic procedures." Solta Medical currently holds over 120 United States patents, and has additional patents issued and pending worldwide.
Marcel Besse, President of BTL Industries Inc. said, "All of us at BTL Industries Inc. are pleased with this agreement and look forward to refocusing our energies on the mission to deliver valuable technology to the Aesthetic Market with the support we are getting recognized for."
ABOUT SOLTA MEDICAL, INC.
Solta Medical, Inc. is a global leader in the medical aesthetics market providing innovative, safe, and effective solutions for patients that enhance and expand the practice of medical aesthetics for physicians. The company offers six aesthetic energy devices to address a range of issues, including skin resurfacing and rejuvenation with Fraxel® and Clear + Brilliant®, body contouring and skin tightening with Liposonix® and Thermage® and acne reduction with Isolaz® and CLARO®.
As the innovator and leader in fractional laser technology, Fraxel delivers minimally invasive clinical solutions to resurface aging and sun damaged skin. Clear + Brilliant is a unique, cost–effective treatment to prevent and improve the early signs of photoaging utilizing Fraxel technology. For body contouring, Liposonix is a non–surgical treatment to reduce waist circumference with advanced high–intensity focused ultrasound (HIFU) technology to permanently destroy targeted fat beneath the skin. Thermage is an innovative, non–invasive radiofrequency procedure for tightening and contouring skin. Isolaz was the first laser or light based system indicated for the treatment of inflammatory acne, comedonal acne, pustular acne, and mild–to–moderate inflammatory acne. CLARO is a personal care acne system that is the first FDA cleared over–the–counter IPL device that uses a powerful combination of both heat and light to clear skin quickly and naturally. More than two million procedures have been performed with Solta Medical's portfolio of products around the world. For more information about Solta, call 1-877-782-2286 or log on to www.solta.com.
ABOUT BTL INDUSTRIES, INC.
Headquartered in Prague, the Czech Republic, BTL Industries designs, manufactures and sells a wide range of medical equipment. Over the last twenty years, BTL Industries has been recognized as a leader in both Physiotherapy and Cardiology devices worldwide. Founded in 2009, BTL Industries' aesthetic division takes the company into cosmetic medicine with non-surgical devices that represent the best in skin tightening, facial rejuvenation, body contouring, fat reduction, anti-wrinkle, and anti-cellulite care. BTL Industries endeavors to bring the finest state of the art technology products to the market, fulfilling the highest standards of excellence, quality and reliability, delivering premium value and service to its customers. For more information, please visit www.exilis.com.
© 2012 Solta Medical, Inc. All rights reserved. Thermage, Fraxel, Isolaz, Clear + Brilliant, CLARO, Liposonix and Solta Medical are trademarks or registered trademarks of Solta Medical, Inc. or its subsidiaries.
SOURCE Solta Medical, Inc.