Strata Skin Sciences raises $17m, taps Rafaeli as CEO

Strata Skin Sciences (NSDQ:SSKN) said today it raised $17 million in a new round of financing, and that investor Dr. Dolev Rafaeli is slated to take over as interim CEO, with former chief exec Frank McCaney taking the role of interim CFO. In the sale, the Horsham, Penn.-based company said it floated 15.7 million shares of stock. The round was led by Accelmed Growth Partners, who invested $13 million, and joined by Dr. Rafaeli, Gohan Investments, Broadfin Capital and Sabby Management. “We are very pleased to have Accelmed as an investor in Strata. Their experience in medical devices and providing growth equity to drive significant value creation serve to further position Strata for its next phase of growth. We are delighted also to have Dolev Rafaeli join as the company’s new CEO. He has considerable experience in leadership roles in medical device companies and has a successful track record of turning around organizations and creating value for shareholders. We are confident he will make a significant contribution to the future of Strata.” board chair LuAnn Via said in a prepared statement. Before assuming the interim CEO role, Dr. Rafaeli previously served as CEO of PhotoMedex and its subsidiary Radiancy, Strata Skin Sciences said. In addition to Dr. Rafaeli’s new position, the company said that Accelmed CEO Dr. Uri Geiger will become board chair. “I am very excited to have the opportunity to lead Strata. The company has a portfolio of proven, bes...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Wall Street Beat Strata Skin Sciences Source Type: news