Voce Capital Responds to Appointment of New Solta CEO

Voce Capital Management LLC (“Voce”) sent a letter today to the Board of Directors of Solta Medical, Inc. (“Solta”) SLTM expressing its disapproval of recent actions taken by Solta, including the appointment of Mark M. Sieczkarek as interim CEO. Voce's letter also reiterated that the best way to maximize Solta's shareholder value is the immediate pursuit of a sale of the Company. In its July 19, 2013 letter to the Board, Voce cautioned against the installation of any current Board member as CEO; the Board neither responded to Voce's letter nor heeded the advice it contained. Rather, the Board replaced the Company's CEO with its Chairman, Mr. Sieczkarek, who has been on the Board since July 2006 and been lead director since 2008. Voce's letter states: Every mistake that occurred during the previous management regime was made with Mr. Sieczkarek's involvement. He was there to approve each of the five acquisitions Solta undertook; he blessed the serial dilution and exhaustion of the Company's authorized share count. He tolerated not quarters but years of execution gaffes and uninterrupted losses. . . . [A]s the Board's leader and senior member, he ultimately bears responsibility for the Company's long-term record of shareholder value destruction as measured by Solta's decimated share price. It all happened on Mark Sieczkarek's watch. J. Daniel Plants, Voce's Managing Partner, added, “The decision to appoint Mr. Sieczkarek as CEO was disappointing enough, but we were appalled by his statements during the conference call. Mr. Sieczkarek made clear that his true intention is to become Solta's permanent CEO and, not coincidentally, that the Company will not explore a sale unless it is forced to do so. If necessary, that's exactly what we shall do.” About Voce Capital Management Voce Capital Management LLC is an employee-owned investment manager and the adviser to Voce Catalyst Partners LP, a private investment partnership.