Establishment Labs CEO Retires; Shares Drop 25.8%

By Bobby Samwell • Monday, January 13 15:24 • Permanent Link

Establishment Labs Holdings Inc. (NASDAQ: ESTA) has announced a transition in its leadership with CEO Juan José Chacón-Quiros retiring after 20 years at the helm. Effective March 1, 2025, Peter Caldini, the current President of Establishment Labs, will take over as Interim CEO.

The company also released its preliminary unaudited revenue results for the fourth quarter of 2024. It is expected to be between $44.5 million and $45.0 million, including approximately $3.2 million from Motiva sales in the United States. Furthermore, the revenue for the entire fiscal year 2024 is anticipated to be between $166.0 million and $166.5 million.

Establishment Labs Holdings Inc. is known for its dedication to improving women’s health and wellness in breast aesthetics and reconstruction. With over four million Motiva® devices delivered to plastic and reconstructive surgeons since 2010, the company has set a new standard for safety and patient satisfaction.

The company's minimally invasive platform includes Mia FemTech®, a unique minimally invasive experience for breast harmonization, and Preservé™, a breast tissue preserving and minimally invasive technology for various breast procedures. Additionally, Gem® is a next-generation minimally invasive system for gluteal ergonomic modeling currently undergoing an IRB-approved pivotal study.

The Motiva Flora® tissue expander is used to improve outcomes in breast reconstruction following breast cancer and is the only regulatory-approved expander in the world with an integrated port using radio-frequency technology that is MRI conditional. Zensor™ is an RFID technology platform used to safely identify implantable devices from outside the body, and includes the company’s first biosensor Zenº™, currently part of an IRB-approved pivotal study to measure core breast temperature.

The company has over 200 patent applications in 20 separate patent families worldwide and over 100 scientific and clinical studies and publications in peer-reviewed journals. It manufactures at two facilities in Costa Rica compliant with all applicable regulatory standards under ISO13485:2024 and FDA 21 CFR 820. Today the company's shares have moved -25.8% to a price of $33.96. For more information, read the company's full 8-K submission here.

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