Suneva Medical announced the closing of a $25 million investment by growth equity firm Essex Woodlands. The new financing will be used to strengthen the company’s growth and the ongoing commercialization of its flagship products: Bellafill, a dermal filler indicated for nasolabial folds and acne scars; and Regenica, a growth factor-based skincare line. In conjunction with the investment, Essex Woodlands will receive one seat on Suneva Medical’s Board of Directors and appoint another independent seat.
In addition, Suneva Medical has announced Preston Romm as its new chief operating officer (COO). Romm has more than 30 years of experience and will be responsible for leading the company’s sales, marketing and operations. He previously served as president of Obagi Medical Products and senior vice president of Valeant Pharmaceuticals.
“Preston’s impressive track record and deep rooted experience in facial aesthetics is a welcomed addition,” said Nicholas L. Teti Jr., chairman and CEO of Suneva Medical. “As we enter another significant growth phase at Suneva, he will play a critical role in further elevating our position as an innovative aesthetics player that is committed to exceptional results and enduring patient satisfaction.”