Cutera enters Chapter 11 protection

May 2025 | DEALFRONT | BANKRUPTCY & CORPORATE RESTRUCTURING

Financier Worldwide Magazine

May 2025 Issue

To strengthen its balance sheet and position the company for long-term success, aesthetic and dermatology solutions provider Cutera has filed for Chapter 11 bankruptcy protection.

The voluntary pre-packaged bankruptcy filing will allow Cutera to initiate a restructuring transaction with the support of a group of existing lenders, representing approximately 74 percent of the company’s notes.

Through the restructuring, Cutera aims to reduce its debt by $400m – over 90 percent of obligations – and secure $65m in new financing from existing lenders.

Cutera’s entities located outside of the US are not included in the Chapter 11 filings.

The company expects to complete the court-supervised process within 60 days – having negotiated its restructuring plan ahead of its Chapter 11 filing – during which it will continue normal operations globally. Following the restructuring, Cutera will transition to a private company, backed by a consortium of investment firms.

Cutera will operate as usual throughout the court-supervised Chapter 11 process and continue to provide best-in-class solutions to its customers around the globe without disruption. The company has also filed a request with the bankruptcy court that will allow it to make timely payments to vendors in full under normal terms for goods and services delivered both before and after the filing.

Cutera has negotiated and solicited votes on its restructuring plan in advance and expects to complete this process quickly and efficiently, within 60 days. At the end of the process, Cutera will be a private company, with a much stronger capital structure and the backing of a large consortium of leading investment firms.

“There is clear momentum underway across the business and we are pleased to have the confidence of our lenders, who are aligned with our vision and invested in our future success,” said Taylor Harris, chief executive of Cutera. “We thank our customers and partners for their continued support, and we are grateful to our employees for their commitment to Cutera.”

A leading provider of aesthetic and dermatology solutions for practitioners worldwide, for over 25 years the Delaware-based company has strived to improve lives through the development and manufacturing of laser and energy-based aesthetic systems for dermatologists and other medical professionals.

“Cutera has established a legacy of premium engineering, innovation and service,” added Mr Harris. “We are constantly evolving to better meet the needs of our customers and their patients.”

Advising Cutera throughout the Chapter 11 process are Ropes & Gray LLP and Hunton Andrews Kurth LLP as legal counsel, Houlihan Lokey as investment banker and FTI Consulting as financial adviser. The group of the company’s lenders is being advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Centerview Partners as investment banker.

“We are taking an important step that will enable us to continue to execute on our growth initiatives and pursue our mission with a much stronger capital structure to support us,” concluded Mr Harris. “We look forward to continuing to innovate, serve our customers and improve patient lives for many years to come.”

Fraser Tennant