Sale permits Sensus to focus on the core dermatology market while providing capital for channel expansion
BOCA RATON, Fla., March 2, 2022 (Newswire.com)
Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for oncological and non-oncological conditions, announces it has sold its Sculptura™ assets to Empyrean Medical Systems for $15 million in cash. The sale, completed on Feb. 25, 2022, included inventory of Sculptura™ systems and parts, in addition to all related intellectual property.
“Sculptura will be in excellent, capable hands under the ownership of Empyrean, and we wish them all the best in their endeavors with this fabulous technology,” said Joe Sardano, chairman and chief executive officer of Sensus Healthcare. “Given the rebound of both the sales of Sensus’ SRT systems and the dermatology market as a whole, we believe our resources are best focused on our core dermatology business. Sensus has already begun to expand its dermatology product offerings, with the recent additions of the TransDermal™ Infusion non-invasive drug delivery system, as well as Sensus Laser Systems, and we intend to use the proceeds from this sale to expand even further. In addition, we are considering seeking Board approval to use a portion of the proceeds to purchase shares of Sensus common stock; however, no decisions have been made on that subject. If the Board approves a repurchase program, we will make an appropriate announcement at that time.”
“We are thrilled to acquire and add the Sculptura™ to Empyrean’s arsenal of cancer-vanquishing products and solutions,” said Kal Fishman, chairman, and chief executive officer of Empyrean Medical Systems. “It is a natural continuum from Sensus’ line of innovations and patient-centric solutions, which will allow us to bring this disruptive technology to patients and clinicians worldwide. We are excited to launch Sculptura™ under Empyrean’s Morpheus™ brand, which will provide clinicians with a state-of-the-art robotically assisted Beam Sculpting™ treatment modality for their cancer patients worldwide. Empyrean’s mission is to innovate and deliver paradigm-shifting treatment technologies for our patients and launching Morpheus™ this year is our first act on this journey.”
The Sculptura™ system provides targeted Directional Anisotropic Radiation Therapy (ART™) and brachytherapy utilizing proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sculptura received U.S. Food and Drug Administration 510(k) clearance in February 2019.
About Sensus Healthcare
Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. Sensus offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.
For more information, visit www.sensushealthcare.com.
About Empyrean Medical Systems
Empyrean Medical Systems is an innovator and paradigm shifter in radiation oncology. Empyrean aims to fundamentally change how cancer patients are treated worldwide while enhancing and improving every patient’s clinical outcomes and quality of life. As a cutting-edge innovator, Empyrean aims to disrupt the fields of oncology and radiation oncology through the introduction of state-of-the-art medical devices, artificial intelligence analytical solutions, clinical applications, and genomic therapeutic agents. Empyrean’s multi-modal solutions provide personalized and effective healthcare, enhancing clinical productivity and improving outcomes for patients, providers, health systems, and researchers worldwide.
For more information, visit www.empyreanmed.com.
This press release includes statements regarding Sensus that are, or may be deemed, ”forward-looking statements.” In some cases, these statements can be identified by the use of forward-looking terminology such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately,” “potential” or negative or other variations of those terms or comparable terminology, although not all forward-looking statements contain these words.
Forward-looking statements involve risks and uncertainties because they relate to events, developments, and circumstances relating to Sensus, its industry, and/or general economic or other conditions that may or may not occur in the future or may occur on longer or shorter timelines or to a greater or lesser degree than anticipated. Although Sensus believes that it has a reasonable basis for each forward-looking statement contained in this press release, forward-looking statements are not guarantees of future performance, and actual results of operations, financial condition and liquidity, and the development of the industry in which Sensus operates may differ materially from the forward looking statements contained in this press release, as a result of the following factors, among others: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; Sensus’s ability to achieve profitability; its ability to obtain and maintain the intellectual property needed to adequately protect its products, and its ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the level and availability of government and/or third party payor reimbursement for clinical procedures using Sensus’s products, and the willingness of healthcare providers to purchase its products if the level of reimbursement declines; the regulatory requirements applicable to Sensus and its competitors; its ability to efficiently manage its manufacturing processes and costs; the risks arising from its international operations; legislation, regulation, or other governmental action , that affects Sensus’s products, taxes, international trade regulation, or other aspects of its business; concentration of its customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
In addition, even if future events, developments, and circumstances are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Any forward-looking statements in this press release speak only as of the date of such statement, and Sensus undertakes no obligation to update such statements to reflect events or circumstances after the date of this press release, except as may be required by applicable law. You should read carefully the “Introductory Note Regarding Forward-Looking Information” and the factors described in the “Risk Factors” section of Sensus’s periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in its business.
Source: Empyrean Medical Systems