Solta receives FDA clearance - LipoSonix

Solta Medical Reports FDA Clearance Received for Second Generation LipoSonix® System

Press Release Source: Solta Medical, Inc. On Monday October 24, 2011, 4:05 pm EDT

HAYWARD, Calif., Oct. 24, 2011 /PRNewswire/ -- Solta Medical, Inc. (Solta) (Nasdaq:SLTM - News), a global leader in the medical aesthetics market, today announced that Medicis Technologies Corporation (formerly LipoSonix, Inc.), a subsidiary of Medicis Pharmaceutical Corporation (Medicis) has received U.S. Food and Drug Administration (FDA) clearance of the second generation LipoSonix system specifically indicated for non-invasive waist circumference reduction. The LipoSonix system delivers high intensity focused ultrasound (HIFU) energy that can disrupt subcutaneous adipose tissue to provide a non-invasive approach to achieve a desired aesthetic effect. Per the terms of the agreement announced on September 13, 2011 for Solta to acquire the LipoSonix subsidiary from Medicis, with the closing of the acquisition, Solta will make a one-time payment to Medicis of $20 million with respect to this clearance, in addition to the $15 million due at closing.

"Compared to its predecessor, the second generation LipoSonix system provides a treatment area that is 2.7 times as large for faster treatment times, has improved ergonomics and ease of use for the practitioner, and has a much smaller footprint in the physician's office," said Stephen J. Fanning, Chairman, President & CEO of Solta Medical. "We congratulate Medicis on receiving FDA clearance for the second generation LipoSonix system prior to our previously anticipated timeframe of first quarter 2012. We look forward to closing the transaction and entering the fast growing non-invasive fat reduction market."

The transaction is expected to close during the fourth quarter of 2011. Solta expects to fund the acquisition through existing cash balances and credit facilities.

The first generation LipoSonix system is currently marketed in Canada, the European Union and Japan. Medicis will continue supporting existing LipoSonix customers worldwide until Solta assumes this responsibility after closing.

 

Liposonix has a great shot in the market, mostly due to the unqualified upper management (minus east and central coast regional managers) at ZELTIQ. Wouldn't be surprised to see the reps from ZELTIQ move to Solta if they treat the reps good. ZELTIQ has such a bad rap for corporate culture.

 

Zeltiq better get ready, because all of the great talent they snowed will leave to go to Solta. Especially on the west coast with that manager who already drove away 4 great people. What a shame.

 

Solta curse

If you are thinking of joining the Solta team be aware of the following:

The current VP of the company (B. Brodie) and Director of sales (B. Beckham) are very clickish, and lack any social graces. The VP is socially inept and talks to the sales force in a demeaning manner. Since the COO left the company a 1.5 years ago the culture of the company has taken a turn for the worse.

During the first quarter of '12, B. Brodie and B. Beckham created this horrific comp plan that blew up in their faces. These dummies think a "bifurcated" sales force is the way to go. So, Solta DOUBLE pays on every equipment sold. Let me break it down for you:

There are three ASM's and one Capital Rep that covers the ASMs. These MORONs (Bill and Ben) gave the ASMs a $300k quota and Capital rep a $400k quote Q1....hmmm, so a Capital rep gets PAID (and gets credit for) any equipment the ASM sells. HMMM, let's use some brain power..how quickly do you think the Capital rep will make their quota if he/she has THREE reps working under them? BILL AND BEN are idiots....they OVERPAID all their Capital Reps Q1 by over $700k!!!! The ASM made NO money and they made all the sales.

So, if you are an ASM consider yourself the Capital Reps, Bitch. My Capital rep was an idiot, but he was a rich idiot making commission checks of $70K quarterly. What a great company Solta is ....idiots.
HR kindly overlooks situations when it involves upper management. SoCal regional Manager is a TOTAL dbag, and NW Manager is "YES" man...God forbid he makes a decision on his own.

What's the curse....if you have been with Solta for five years, they will find a way to fire you. The turn over at Solta is around 30% per year. They are not a forgiving company so if you cannot perform...don't apply.

 

update.. Brodie is now gone.. Liposonix is a dead product compared to competitors, especially zeltiq that is destroying liposonix on pure marketing effort. Liposonix hurts too much. Imagine branding yourself for minutes straight then not seeing a result. company has started its death spiral with old products and prices raising on disposables. They restructured Jan 1 2013 and cut the Acct managers role down to 130K max and are now hiring only minor leaguers. all to save money. they are not putting money into liposonix and extremely little customers are doing well with the
product from lack of support from solta. zeltiq is supporting their users and they are making big dollars. that will catch up with customers when zeltiq realizes just how bad solta users are doing and how little they are trying to help build their business which was the premise behind having a disposable product with their capital. Solta is raping their customers and their technology doesn't support using it anymore. Just fraxel works and the competitors have caught up to it. Thermage doesn't work at all. If you want to find decent medical work, don't look here unless you are selling BtoB and you need one more step towards a real medical job.

 

so why really is everything going down hill? I thought they bought a new company? I heard of they had been a great company but with horrible morals and integrity. Similar to the premise that the bipolar and addicted population need to promote peace and tranquility, maybe Solta needs a selling program called "Integrity". Hold on, I heard they already had that program. Maybe a program on how to protect a dying brand and a company without the profit numbers to invest in programs to build revenue for their customers? No they are hiring new Acct mgrs that are rookies so they get to try to get customers to stock their shelves than actually help bring customers to the facility like other companies do. what to do what to do. If I am a derm or plastic center I am undoubtedly looking at other suppliers that are not in the financial pickle that solta finds themselves as they are a public company squeezing themselves for profit numbers to report and a management team that has no idea on what to do as I don't think any of them ever worked for large companies as most solta employees generally come from copier companies only interested in selling new equipment and without real marketing talent.

 

This posted this weekend on 1st quarter results.

Solta's North America revenue declined year-over-year by 19% to $13.8 million (not included with be another 1.5million the posted from the sales of sound surgical that will be taken out as the merger looks like it will not go through). What a disaster.

"Our first quarter was softer than we had planned due to issues that have been
identified and corrected," said Stephen J. Fanning, Chairman. Heard that the fix isn't that good and not to see much growth. This was from a horrible managment call on reducing the commissons for the account reps and having them compete against the capital reps with some of their products. A complete disaster that was vocalized internally but not responded to and hence the disaster results. Someone other than Fanning should be taking the fall for this as the management team is too thin to not know what was going on and attempt to stop this. Other than the fact that the mgmt team is entirely too inexperienced and probably too afraid to state the obvious pending disaster.

Customers are wising up to the fact that Liposonix is too painful and coolsculpting is much easier, less painful and gets better results and end users are getting zero support in increasing sales from Solta. what a shame.

 

Does anyone know what or why the Regional Sales Manager position is open in Florida?

 

the florida territory has flipped approx 20 times in 10 years. never hits quota. florida is full of customers who are accustomed to being ripped off and they have their radars on for companies like solta as opposed to customers say like in nebraska or idaho who live lives where they aren't expecting someone to rip them off and are more gullible to the solta sales platform. i would stay away from this company in florida. plus the company is takng a dive in the US in sales and sales mgmt is scrambling to salvage profit so they all have itchy trigger fingers. you can jump on board this company if they have a real product that truly is game changing. until then stay away unless you are a copier rep looking for a quick easy way into a similar style of selling but in "health care" with slightly better pay. there is a conference call aug 5 or so where they will have to report 2nd q numbers, listen for US sales only, not outside US as outside US is doing great. US is nose diving which means big changes.

 

See financials where the holding group is forcing the company to be sold from a complete lack of results. Stay away from this trigger happy company that is failing due to extremely poor management in corp and in the field. Coolsculpting is the only company doing well in the entire aesthetic industry due to a lack of new technology. Solta's equal to this technology is horrible and as painful as open surgery without anesthesia.

 

TOTALLY PREDICTABLE FROM THE INSIDE. CRASHED DUE TO POOR MANAGEMENT. READ THE THREADS AND UNDERSTAND THAT THIS WAS FORECASTABLE WHEN YOU HAVE HORRID MANAGERS IN THE FIELD EXECUTING THEIR OWN POOR PLAN.

GOOD BYE SOLTA. YOU WILL NOT BE MISSED. YOU WILL BE FOREVER KNOWN AS AN EXAMPLE OF HOW TO DESTROY YOURSELF FROM WITHIN.

AND FOR THE STAFF AT CORPORATE. YOU HAVE A HAND IN THIS TOO. YOU COW GRAZING LAZY ASS PITIFUL FOOLS. YOU LET THE HORRID MANAGEMENT DRIVE YOUR COMPLACENCY. BULLDOZE THE PLACE TO THE GROUND AND GO FIND ANOTHER JOB. UNDERSTAND THAT A PATHETIC ATTITUDE WILL HELP DRIVE ANOTHER COMPANY INTO THE GROUND.

ATTENTION ANYONE INTERVIEWING ANYONE FROM CORPORATE. THEY FOSTERED A SELFISH MISERABLE PLACE TO WORK AND THINK TWICE ABOUT HIRING SOMEONE FROM SOLTA. THEY HAVE BEEN TRAINED TO LEAD PEOPLE NOWHERE.

 

We have some call Ben Beckham at our company and our comp plan sucks! Can someone tell me his management style? It seems it's his way or you're gone.

 

Good guy..... Whats the comp plan like???

 

yes, for BB it's his way or the highway and comp plan will be everchanging - good luck to you! weak, weak sales leader.