Cutera Executes Major Debt Reduction with Ropes & Gray's Guidance
Deal News | Mar 05, 2025 | Ropes & Gray
Cutera, Inc., a prominent player in the aesthetic and dermatology solutions industry, embarked on a significant financial restructuring by filing prepackaged Chapter 11 cases. The restructuring strategy is set to reduce the company's debt burden by approximately $400 million, representing over 90% of its existing debt. Additionally, Cutera will secure an infusion of $65 million in new financing from its current lenders. This strategic move aims to streamline Cutera's balance sheet and position the company for future growth. The legal expertise of Ropes & Gray was crucial in navigating this complex process, with partners specializing in areas such as business restructuring, finance, private equity, tax, capital markets, litigation, and employee benefits contributing to the successful arrangement.
Sectors
- Healthcare Equipment & Services
- Legal Advisory
Geography
- United States – Cutera, Inc. is based in the United States, and Ropes & Gray is a US-based law firm, making this geography relevant to the bankruptcy and restructuring proceedings.
Industry
- Healthcare Equipment & Services – Cutera is a provider in the aesthetic and dermatology solutions, categorizing it under healthcare equipment & services due to its focus on technological solutions for medical aesthetics.
- Legal Advisory – Ropes & Gray's involvement signifies the legal advisory sector's role in corporate restructuring and bankruptcy proceedings.
Financials
- $400 million – The amount by which Cutera, Inc.'s debt will be reduced through its prepackaged Chapter 11 proceedings.
- $65 million – The new money Cutera is raising from its existing lenders to support its restructuring.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cutera, Inc. | Target Company | Company | A provider of aesthetic and dermatology solutions facing financial restructuring. |
| Ropes & Gray | Legal Advisor | Company | A law firm providing legal advice and guidance to Cutera, Inc. through its restructuring efforts. |