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Voce Capital says Solta has refused acquisition interest

Voce Capital Management said it delivered a letter to the board of Solta Medical, demanding the formation of a Special Committee to evaluate a strategic sale or merger of the company. In its letter, Voce said it criticized the board for "failing to heed previous calls to evaluate strategic alternatives, particularly in light of the defeat of management proposals, and strong expressions of shareholder dissatisfaction with the Company’s current strategy, at the recent annual meeting." Specifically, Solta management has refused to entertain recent inbound acquisition interest from credible strategic acquirors, Voce added.