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All Posts Tagged: lasers

MRN Forms Exclusive Partnership With Strata Skin Sciences

STRATA Skin Sciences Announces Agreement with MedResults Network, a GPO Exclusive to the Aesthetic Medical Market

Agreement will enhance sales efforts of Nordlys and Stratapen

Horsham, PA, October 16, 2017 — (NASDAQ: SSKN) STRATA Skin Sciences, Inc. (“STRATA”) a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions, today announced signing an Agreement with MedResults Network (MRN). MRN is a Group Purchasing Organization that has more than 3,000 members including Dermatology Offices, Plastic Surgery Practices, Facial Plastic Practices, MediSpas and other providers. MRN researches product categories and selects advantaged products and then negotiates pricing for its membership. MRN focuses on the aesthetic market and has agreements with more than 50 vendors with only one vendor per product category.

Frank McCaney, President and Chief Executive Officer of Strata, commented:

“We are pleased to announce this relationship which we believe has major benefits to STRATA. MRN has a loyal and long term subscriber base and a reputation for providing value to its members. MRN provides additional value to its members by offering educational seminars and value to its vendors by active promotion of the products on agreement with them. Furthermore, the products that Strata introduced earlier this year in the Aesthetic space are outstanding products but lacked broad awareness. We believe that the reach and credibility of MRN will greatly benefit our sales efforts.”

Jeff Routledge, President of MRN added:

“We are excited about the opportunity to assist STRATA in marketing their products to our membership. STRATA’s Aesthetic products, Nordlys and Stratapen are excellent products that are in growing sectors of the Aesthetic market. MRN’s mission is to offer our members best-in-class products from world class companies through pricing that can only be achieved by leveraging the buying power of our 3,000 member practices and medical spas.”

The relationship between MRN and STRATA with special pricing to MRN members is being fully launched to the membership this week.

About STRATA Skin Sciences, Inc.

(www.strataskinsciences.com)

STRATA Skin Sciences is a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions.  Its products include the XTRAC® laser and VTRAC® excimer lamp systems utilized in the treatment of psoriasis, vitiligo and various other skin conditions; the STRATAPEN™ MicroSystem, marketed specifically for the intended use of micropigmentation; and Nordlys, a multi-technology aesthetic laser device.

About MedResults Network

(www.medresultsnetwork.com)

MedResults Network is a free membership service that offers instant discounts and quarterly rebates at no risk or obligation. They have partnered with over 50 leading national vendors to negotiate cost savings for its members in product categories including fillers, lasers, skin care, and more. Since 2008 their leadership team worked closely with both their members and partners to ensure their continued growth and success.

Safe Harbor

This press release includes “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to the Company’s plans, objectives, expectations and intentions and may contain words such as “will,” “may,” “seeks,” and “expects,” that suggest future events or trends. These statements, including the Company’s ability to sell products to MRN members,  generate the anticipated revenue stream, the Company’s ability to generate sufficient cash flow to fund the Company’s ongoing operations beginning at any time in the future, the Company’s ability to license or acquire new products, the public’s reaction the Company’s new advertisements and marketing campaign, access to capital markets, and the Company’s ability to build a leading franchise in dermatology and aesthetics, are based on the Company’s current expectations and are inherently subject to significant uncertainties and changes in circumstances. Actual results may differ materially from the Company’s expectations due to financial, economic, business, competitive, market, regulatory and political factors or conditions affecting the Company and the medical device industry in general, as well as more specific risks and uncertainties set forth in the Company’s SEC reports on Forms 10-Q and 10-K. Given such uncertainties, any or all of these forward-looking statements may prove to be incorrect or unreliable. The Company assumes no duty to update its forward-looking statements and urges investors to carefully review its SEC disclosures available at www.sec.gov and www.strataskinsciences.com.

 

Investor Contacts:

Christina L. Allgeier, Chief Financial Officer   Bob Yedid, Managing Director
STRATA Skin Sciences, Inc.   LifeSci Advisors, LLC
215-619-3267   646-597-6989
callgeier@strataskin.com   Bob@LifeSciAdvisors.com
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5 Pitfalls To Avoid When Purchasing A Device!

Contributed by MedResults Network partner, Jay Shorr of The Best Medical Business Solutions

I’ve seen it over and over again: I arrive onsite for a practice’s site visit evaluation and inevitably, there’s a once-loved device sitting in a closet.  Maybe the laser is alone, both unused and unloved, but often, it may have a friend of two with it.

My business partner and I refer to this as the Laser Graveyard, and it’s all too common.

Before you splurge on your next piece of equipment, I suggest that you do two things:

1: Read on for a few tips of what to look for before writing the check.  Note this is by no means an all-inclusive list, but just a start.

2: Listen to Thursday’s webinar on November 3, “How to Select Your Next Laser Device.”

Pitfall #1: Evaluate WHY you’re looking to purchase the piece of equipment, and what makes that piece of equipment right for your practice.  Think about who is going to be treating your patients, how much time the piece of equipment takes for each treatment, and if you already have the patient base to cross market and cross sell.  Is an aesthetician able to utilize the laser in your state, for example, or do you need to hire a mid-level practitioner?  Have your patients been requesting a new treatment?  Is it replacing an older device or filling a gap in your practice?

Pitfall #2: Not creating a proper marketing plan for your new piece of equipment.  This isn’t the Field of Dreams, and you’re not Kevin Costner.  If you build it, they may NOT come.  Before making the splurge, thing about how you’ll market to your patients internally, through social media, e-blasts, postcards, print advertising, special events and more.  Do you have a team made up of selling machines, or is your staff afraid of introducing patients to new technology?   Know how you’ll set yourself up for success.

Pitfall #3: Not doing your research ahead of time.  Check with other colleagues who have used the device to learn of their successes and opportunities for improvement.  Check out your local competition to see about market saturation.  Find out which complications occur over and over again, and which complaints or compliments patients in other markets have about the device.

Pitfall #4: Read the fine print in the contract.  Make sure you review the contract, in detail, and consider presenting it to a professional as well.  We review contracts for our clients on a regular basis to see what’s being left on the table.  For example, did the contract include the MedResults Network membership discount or rebate that you receive as being a part of the organization, or was it mysteriously left out when the deal was put into writing?

Pitfall #5: Falling in love with the vendor/sales rep/piece of equipment.  At the end of the day, the contract has to be something that will work for you.  A new piece of equipment can be an incredible moneymaker and investment, but not knowing the items discussed above can start building… you guessed it… your laser graveyard.


Jay A. Shorr BA, MBM-C, CAC I-X is the founder and managing partner of The Best Medical Business Solutions, a medical practice consulting firm assisting cosmetic and aesthetic medical practices with the operational, financial and administrative health of their business. He is also a professional motivational speaker, an advisor to the Certified Aesthetic Consultant program and a certified medical business manager from Florida Atlantic University. He can be reached at info@thebestmbs.com

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