By Robb M. Stewart

Cutera has reached a deal with its creditors to help it emerge from bankruptcy as a private company with a sharply lowered debt burden.

The supplier of aesthetic and dermatology solutions for practitioners said Wednesday that it has launched restructuring efforts with the support of a group of its existing lenders to strengthen its balance sheet and position it for long-term success.

The move aims to cut debt by nearly $400 million, or by over 90%, and raise $65 million in new money from the lenders.

Cutera said it filed voluntary "pre-packaged" Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas and will seek to operate as usual throughout the court-supervised process. Cutera's entities located outside of the U.S. aren't included in the Chapter 11 filings.

The company said it expects to complete the process quickly and efficiently within 60 days, after which it will be a private company backed by a consortium of investment firms. Cutera said it has negotiated and solicited votes on its restructuring plan in advance.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 05, 2025 07:40 ET (12:40 GMT)

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