Sientra Inc., an Irvine-based maker of breast implants undergoing Chapter 11 bankruptcy reorganization (Other OTC: SIENQ), said it’s sold certain assets in its breast reconstruction and augmentation business to Tiger Aesthetics Medical LLC for $42.5 million and certain liabilities.
Sientra also said it’s sold its assets for its Bicorneum business for $8 million to Nuance Intermediary LLC.
Sientra on Feb. 12 announced it’d file for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. The court is scheduled for an April 10 hearing on whether to approve the sales.
The company, which makes products for plastic surgeons, plans to continue operations. It reported having about 300 employees 15 months ago. Sientra’s revenue in 2022 grew 12% to $90.3 million.
Shares today fell 13% to 16 cents and a $1.6 million market cap.
