RMED - Mergers and acquisitions

Company focused on the large and growing peripheral artery disease (PAD) market Ra Medical Systems, Inc. (NYSE:RMED), a medical device company focused on commercializing its excimer laser system to treat vascular disease, announces the sale of its Pharos dermatology business to STRATA Skin Sciences (NASDAQ:SSKN) for $3.7 million in cash. The Pharos excimer laser is FDA-cleared for the treatment of psoriasis, vitiligo, atopic dermatitis and leukoderma. "We believe this transaction is in the best interest of Ra Medical and our shareholders as we intend to maximize value with a strategy that continues to focus on the large and growing PAD market," said Will McGuire, Ra Medical Systems CEO.