Fourth quarter 2019 net sales expectations anticipate record miraDry segment net sales of $10.4 million, an increase of 22% compared to $8.6 million for the same period in 2018, reflecting strong system placements and consumables growth in both the United States and international markets.
Sientra anticipates net cash and cash equivalents as of December 31, 2019 to be approximately $88 million, compared to $121 million as of September 30, 2019. Uses of cash in the quarter included $14 million upfront payment to Lubrizol Life Science and $5 million of working capital investments associated with the previously announced acquisition of the OPUS manufacturing operation.
Caroline Van Hove appointed to Sientra’s Board of Directors
The Board of Directors has appointed Caroline Van Hove as a director of Sientra, effective January 10, 2020.
Mr. Nugent said, “It is with great pleasure that we welcome Caroline to our Board of Directors. Her commercial expertise and deep aesthetics industry experience will be extremely valuable as we advance towards our goal of becoming a global, diversified aesthetics leader.”
Ms. Van Hove is a global commercial leader with over 20 years of diverse experience in the pharmaceutical, consumer and medical device industry. Her experience spans North America to Europe, Africa, the Middle East to Asia Pacific and Latin America. Ms. Van Hove recently served as Chief Commercial Officer of Sienna Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on therapies in immunology and inflammation.
Prior to Sienna, Ms. Van Hove served as Senior Vice President of International Strategic Marketing at Allergan, where she oversaw commercial operations for the medical aesthetics, eye care and specialty care franchises. Previously, Ms. Van Hove managed commercial operations in Europe, Africa and the Middle East and led Allergan’s international medical aesthetics operations. Ms. Van Hove also served as part of Allergan’s Global Operations & International Leadership Teams.
“I am excited to join the Board of Sientra, a company whose commitment to patient safety and clinical quality has earned the trust of physicians and their patients,” said Ms. Van Hove. “I am looking forward to collaborating with the Board and senior management team to support Sientra’s continued growth and success.”
About Sientra
Headquartered in Santa Barbara, California, Sientra is a diversified global medical aesthetics company and a leading partner to aesthetic physicians. The Company offers a suite of products designed to make a difference in patients’ lives by enhancing their body image, growing their self-esteem, and restoring their confidence. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s Breast Products Segment includes its OPUS® breast