The divestment of miraDry will allow Sientra to focus more on its breast products business
Healthcare growth equity firm 1315 Capital has agreed to acquire miraDry business from medical aesthetics company Sientra.
The miraDry system is claimed to be the only FDA cleared device to minimise underarm sweat and odour, as well as permanently reduce the hair of all colours.
It uses thermal energy to target and eliminate the sweat and odor glands in the underarm.
According to the company, miraDry is an easy treatment that can be completed in a physician’s office within one hour.
Sientra president and CEO Ron Menezes said: “Sientra’s strategic decision to focus investment on its core Breast Products business constrained our ability to maximize the miraDry opportunity given the different business models.
“We are delighted to have found the best partner in 1315 Capital who has recognized the untapped potential of the miraDry business and is committed to serving and growing the current installed base of over 1,600 miraDry systems.”
Subject to certain terms and conditions, the deal is expected to be completed within the next month.
The divestment of miraDry will allow Sientra to focus more on its breast products business and the plastic surgery channel.
Based in Santa Barbara of California, Sientra offers round and shaped breast implants. Its fifth-generation breast implants are approved by the FDA for sale in the US.
The company also offers Allox2 breast tissue expander with patented dual-port and integral drain technology.
In April, Sientra announced a partnership with Butterfly Network to enhance diagnostic surveillance of breast implant patients.
The partnership is aimed at enabling plastic surgeons to evaluate breast implant patients longitudinally using the Butterfly iQ+ and its advanced Ultrasound-on-Chip technology.