UPDATE 2-Solta Medical explores sale after loss exceeds estimate

Mon Nov 11, 2013 8:41pm EST
 
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* Valeant could be interested buyer -analyst

* Hires Piper Jaffray as financial advisor

* Third-qtr adj shr loss $0.04 vs est loss $0.01

* Revenue $33.5 mln vs. est $40.7 mln

* Shares up 20 pct after market (Adds analyst comment on potential buyers, details on competition)

By Zeba Siddiqui

Nov 11 (Reuters) - Solta Medical Inc is exploring a sale due to falling profits from its medical equipment to remove fat and improve the appearance of a person's skin and pressure from activist investor Voce Capital Management LLC.

Shares of Solta, which makes products for procedures such as skin rejuvenation, skin tightening and body contouring, jumped 20 percent to $2.20 in extended trading after the company said it hired Piper Jaffray as adviser.

Solta's plans to pursue a sale come after its financial results missed analysts' estimates for at least four quarters in a row, hurt by rapidly deteriorating sales of its medical devices due to competition.   Continued...