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Ra Medical Systems Sues Strata Skin Sciences for False, Misleading, and Disparaging Statements in Connection with Ra Medical’s Initial Public Offering

CARLSBAD, Calif.–(BUSINESS WIRE)–Ra
Medical Systems, Inc.
(NYSE: RMED) filed a complaint today in the
United States District Court for the Southern District of California
alleging Mr. Uri Geiger, Chairman of Strata Skin Sciences, Inc. and
managing partner of Accelmed (Strata’s majority stockholder), undertook
a campaign of false, misleading, and disparaging statements to Ra
Medical’s financial partners and potential investors before, during, and
after Ra Medical’s initial public offering. Ra Medical believes these
false statements constituted intentional interference with Ra Medical’s
contractual relations and prospective economic relations, as well as
trade libel. In addition, Ra Medical alleges that the statements
breached the non-disparagement provision of a prior settlement agreement
to which Strata was expressly bound.

Ra Medical supports innovation and competition in the medical device
market. To that end, Ra Medical is focused on commercializing excimer
laser systems to treat vascular and dermatological diseases. Strata’s
actions did nothing to advance innovation or competition. Instead, they
appear to be a deliberate attempt to derail Ra Medical’s mission by
limiting our access to the capital markets, as well as by harming our
brand and reputation. As a result, we believe that this lawsuit is
necessary to protect our interests and those of our stockholders, our
physician customers and their patients.

Ra Medical is seeking a declaration that Strata breached the settlement
agreement, interfered with contractual relations and with prospective
economic relations, and committed trade libel. Ra Medical is seeking
monetary damages, including our costs and legal fees as provided by the
settlement agreement, and such further relief which as court deems just
and proper.

Cooley LLP is serving as legal counsel to Ra Medical in connection with
this matter.

About Ra Medical Systems

Ra Medical Systems is a commercial medical device company developing and
marketing innovative excimer laser systems for the treatment of vascular
and dermatologic diseases. DABRA launched in 2017 for the endovascular
treatment of blockages resulting from lower extremity vascular disease.
Pharos launched in 2004 for the treatment of dermatological disorders
including psoriasis, vitiligo, and atopic dermatitis. DABRA and Pharos
are based on Ra Medical’s core excimer laser technology platform that
produces 308 nanometer light, a UVB wavelength that studies have
demonstrated increases T-cell apoptosis, or cell death, which may
produce a beneficial, targeted immunosuppressive effect. Ra Medical
manufactures DABRA and Pharos excimer lasers and catheters in a
32,000-square-foot facility located in Carlsbad, California. The
vertically integrated facility is ISO 13485 certified and is licensed by
the state of California to manufacture sterile, single-use catheters in
controlled environments.

Contacts

Media Contacts
Caitlin Kasunich / Tony Forde
KCSA
Strategic Communications
212.896.1241 / 347.487.6218
[email protected]
/ [email protected]

Investor Contact
Jeffrey Kraws
President, Ra Medical
Systems
760.707.7516
[email protected]

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