Distributors in China and Japan have each maintained exclusive distribution agreements with the Company for over 10 years and collectively accounted for 46% of the Company's total international revenue in 2023
HORSHAM, Pa., April 09, 2024 (GLOBE NEWSWIRE) -- STRATA Skin Sciences, Inc. ("STRATA" or the "Company") (NASDAQ: SSKN), a medical technology company dedicated to developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, announces the renewal of two distinct distribution agreements in international territories – one with the current exclusive distributor in China and a second with the current exclusive distributor in Japan. Terms of each of the distribution agreements are for three years and carry minimum unit placements and/or purchases of the XTRAC and VTRAC devices.
"The renewal of these exclusive distribution agreements in China and Japan, when coupled with the renewal of the distribution agreement in South Korea announced in December 2023, brings improved visibility to the international segment of our business," stated Dr. Dolev Rafaeli, STRATA's President and Chief Executive Officer. "International revenue in 2023 was nearly a third of our total revenue, and as we focus on additional opportunities for growth outside of the U.S., we are gratified that our long-standing exclusive distributors in these three key territories continue to provide value through our innovative product offerings in their respective dermatology markets. We look forward to continued mutually beneficial relations with each and leveraging our installed base around the world, as service and parts sales are an important aspect of our international business."