Ulthera files for $86 million IPO
Ulthera, which sells ultrasound energy systems for the non-invasive lifting of eyebrows and skin around the neck, filed on Monday with the SEC to raise up to $86 million in an initial public offering.
The Mesa-based company, which was founded in 2004 and booked $82 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol ULTH. J.P. Morgan and Citi are the joint bookrunners on the deal. No pricing terms were disclosed. (1)
Ulthera, Inc. is a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications. The company’s signature technology is the Ulthera® System, which is the first and only energy-based device that is FDA-cleared for use as an aesthetic treatment – the Ultherapy® procedure – that non-invasively lifts the eyebrow and skin on the neck and under the chin.
The company received its third FDA clearance in January of 2013 for its ultrasound platform device, the Ulthera System, has been cleared by the Food and Drug Administration (FDA) to visualize the dermal and subdermal layers of tissue during the non-invasive lifting treatment, Ultherapy.
This third FDA clearance follows the first two – in Sept. 2009 and Oct. 2012 – which cleared the Ulthera System to non-invasively treat the face and neck with specific, first-and-only indications to lift skin on the neck, under the chin and above the brow.