AmTrust Financial Services and Blackstone Credit & Insurance Close Strategic Transaction and Launch Newly Formed Multinational MGA Company Named ANV Group Holdings Ltd.

 NEW YORK - Friday, 05. December 2025 AETOSWire 

Strategic Transaction Unlocks Value for AmTrust and Positions ANV Group Holdings for Accelerated Growth

Former AmTrust President Adam Karkowsky Leading ANV Group Holdings as Chairman and CEO

 

(BUSINESS WIRE)--AmTrust Financial Services, Inc. (“AmTrust” or the “Company”), a global specialty property casualty insurer, and Blackstone Credit & Insurance (“BXCI”), today announced the closing of a strategic transaction under which AmTrust and funds managed by BXCI have partnered to spin-off certain of AmTrust’s Managing General Agencies (“MGAs”) and fee-based businesses in the U.S., United Kingdom, and Continental Europe, into ANV Group Holdings Ltd. (“ANV”), a newly formed independent company, following receipt of regulatory approvals.

AmTrust and ANV have entered into a ten-year capacity agreement through which AmTrust will remain the underwriter for the existing books of business offered through the MGAs. As previously announced on September 15, 2025, the agreement includes seven AmTrust subsidiaries: ANV Specialty, Risico, Collegiate, ANV Nordic, Arc Legal, Qualis, and Abacus. These businesses provide diverse risk and insurance coverages including cyber excess and surplus (E&S), directors and officers (D&O), transaction risk insurance, professional indemnity, legal expense, mortgage and structured credit, warranty, agricultural workers’ compensation, income protection, accident and health (A&H), and residential and commercial niche property.

Adam Karkowsky has assumed the role of Chairman and CEO of ANV following nearly 15 years of leadership positions at AmTrust, where he most recently served as President. Additional members of the ANV leadership team include Joseph Brecher, Chief Financial Officer (formerly SVP, Head of Alternative Investments at AmTrust), Jacob Decter, Chief Operating Officer (formerly Chief Strategy Officer, Global Fee Businesses, and Head of Mergers & Acquisition and Corporate Development, at AmTrust), and Aaron Basilius, Head of MGAs US (formerly SVP Cyber at AmTrust).

“We are very pleased to have successfully closed this transaction in partnership with Blackstone to further build upon the strong foundation of this global MGA platform,” said Barry Zyskind, Chairman and Chief Executive Officer, AmTrust. “Under the leadership of Adam, I look forward to ANV achieving new levels of profitable portfolio growth and continuing to provide strong underwriting and service. We will continue to work with ANV and participate in its future success, through our significant retained equity interest.”

Adam Karkowsky, Chairman and CEO of ANV, said, “With the launch of an independent, diversified multinational MGA platform built on deep insurance expertise and years of history together, ANV is well-positioned to create meaningful growth and long-term value with continued support from our partners, AmTrust and Blackstone. We have a talented team across the U.S., UK, and Europe, delivering outstanding services to our brokers, partners and clients.”

About AmTrust Financial Services, Inc.

AmTrust Financial Services, Inc. is a leading specialty insurer recognized for its innovative solutions and commitment to service, serving more than 60 countries worldwide. For more information about AmTrust, visit http://www.amtrustfinancial.com.

About ANV Group Holdings Ltd.

ANV Group Holdings Ltd. (“ANV”) is a leading managing general agency platform which writes a diversified mix of specialty, affinity and wholesale insurance products in the United, States, United Kingdom, and Europe. With deep industry experience and a history of profitable growth, ANV acquires and scales MGAs and incubates and develops new offerings. Its differentiated underwriting expertise delivers outstanding solutions and service.

 

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Contacts

AmTrust Financial Services and ANV Group Holdings

Mairi Mallon

mairi.mallon@rein4ce.co.uk

+44 (0)7843 076533

Cathy Loos

amtrust@ketchum.com

1 212 729 3753

Board Recognized as a Leader in the Gartner® Magic Quadrant™ for Financial Planning Software for Fourth Consecutive Year

 BOSTON - Friday, 05. December 2025

Fourth consecutive placement reflects Board’s Completeness of Vision and Ability to Execute

(BUSINESS WIRE) -- Board, the leading Enterprise Planning Platform, today announced that it has been named a Leader in the 2025 Gartner® Magic Quadrant™ for Financial Planning Software. This marks the fourth consecutive year the company has been positioned in the Leaders quadrant.

The Board Enterprise Planning Platform integrates planning processes across the enterprise, enabling strategic, financial, and operational planning with near-real-time analysis and data sharing. Board’s unified approach to planning has driven strong adoption across financial and operational planning in the manufacturing, consumer packaged goods (CPG) and retail sectors.

“We are proud to once again be named a Leader in the Gartner Magic Quadrant for Financial Planning Software,” said Jeff Casale, CEO of Board. “To Board, this recognition reflects our continued commitment to helping organizations unify strategic, financial, and operational planning within a single platform, and empower teams to plan continuously, make confident decisions and outperform in an ever-changing world.”

A key innovation within the Board platform is Flex Grid, a next-generation interface that delivers self-service planning and analysis through reimagined data visualization, calculation and dashboarding. The Flex Grid environment provides intuitive formulas and dashboarding functionalities, enabling both bottom-up and top-down planning at scale. Users can work with large data volumes, perform detailed forecasting, and run scenario modelling with speed and precision in a familiar, Excel-like interface.

Looking ahead, Board’s product roadmap includes persona-based, use-case specific intelligent agents designed to act as collaborative partners with deep domain expertise across roles such as FP&A, Controllership, Merchandising, and Supply Chain Planning. Rather than offering a single generic AI agent, Board plans to provide a network of role-specific agents that can independently perform tasks with minimal guidance. These agents are native to the Board platform, leveraging the same data model, business hierarchies, and calculations that their customers use daily.

“What we’re building is more than another AI feature,” said David Marmer, SVP of Product at Board. “We see this as an evolution in how organizations plan, decide, and act, providing a family of role and use case-specific agents working alongside humans to enable more continuous, intelligent, and trusted planning.”

Access a complimentary copy of the full Gartner report on the Board website.

[1] Gartner, Magic Quadrant for Financial Planning Software, By Regina Crowder, Sid Sahoo, Mike Lashinsky, 1 December 2025.

Gartner Disclaimer:

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner does not endorse any company, vendor, product or service depicted in its publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner publications consist of the opinions of Gartner’s business and technology insights organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this publication, including any warranties of merchantability or fitness for a particular purpose.

About Board

Board is the Enterprise Planning Platform built to accelerate business performance, enable continuous planning, and drive confident, aligned decisions. It powers more accurate forecasts with real-time visibility into enterprise and external data. It unifies finance and operations with a single source of the truth. And with AI-augmented experiences for every role, teams can continuously make smarter decisions for predictable, profitable business outcomes. That’s why visionary global brands including H&M, BASF, Burberry, Toyota, Coca-Cola, HSBC, and thousands more trust Board to navigate complex markets with confidence. For more information, visit www.board.com.

 

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Contacts

Jennie Olean

Jolean@board.com

 

GoWit One: The Unified AI Operating System Set to Revolutionize Commerce & Retail Media

 WPP Turkey has been selected as a pilot partner to deploy GoWit One, cutting campaign setup time to 10 minutes.

(BUSINESS WIRE) -- GoWit, a global AdTech leader in omnichannel Commerce and Retail Media, announced the launch of GoWit One, the unified AI operating system that brings automation, unification, and real-time intelligence into a single ad platform for agencies operating across multiple retailers, channels, and markets.

By bringing these three elements into one dashboard, GoWit One addresses the industry's most critical bottleneck: operational inefficiency. The platform enables agencies to manage campaigns across multiple retailers, channels, and markets, reducing manual AdOps workflows by 98%, turning a process that used to take hours into as little as 10 minutes.

Solving the “Fragmentation Crisis”

Despite the explosive growth of Retail Media, the industry faces a significant hurdle. According to the IAB, 70% of the market still lacks end-to-end AI adoption. Media buyers are currently forced to juggle disconnected networks, compliance rules, and dashboards, leading to manual errors and an inability to scale.

GoWit One eliminates these barriers by serving as a command center. It connects GoWit’s established infrastructure, linking 7,000+ brands with top retailers across 20+ EMEA markets.

Rapid Execution: Automated workflows that replace manual data entry.

Unified Intelligence: A single view of performance across on-site, off-site, and in-store formats.

AI-Guided Compliance: Real-time checks on formats, specs, and pricing to prevent launch delays.

GoWit One: A New Era of AI-Driven AdOps

“By putting AI at the core of AdOps, we’re enabling agencies to reclaim time, eliminate inefficiency, and scale smarter than ever before,” said Emrah Adsan, CEO of GoWit.

“GoWit One brings together automation, multi-retailer unification & real-time intelligence. Backed by our deep presence across EMEA, we’re delivering the connected AI layer agencies have been waiting for; one system to plan, activate, and optimize campaigns across all retailers and markets.”

Strategic Partnership with WPP Media

As the world’s largest creative transformation company and a global leader in media investment, WPP defines the standards for media excellence. In a move that validates the platform’s capabilities, GoWit has selected WPP Media Turkey as its exclusive pilot agency partner.

Evren Gülyaşar, Managing Director for Commerce at WPP Media Turkey, commented:

“GoWit One sets a new benchmark for how agencies operate in commerce and retail media. For the first time, our teams can manage multi-retailer and multi-market campaigns end-to-end, from creation to optimization, in a single AI-driven ecosystem. This platform removes operational bottlenecks and fragmentation, giving us the speed and precision effectively required to lead in this space. It is the transformative infrastructure the industry has been waiting for, empowering us to scale smarter and deliver stronger business outcomes for our clients.”

About GoWit

GoWit is a leading AdTech provider building EMEA’s largest AI-powered Commerce and Retail Media Network. Combining best-in-class technology with demand-side expertise, GoWit enables retailers, brands, and agencies to maximize ad monetization and relevance through omnichannel activation.

 

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Contacts

GoWit

Begench Soyunov

begench@gowit.com

Northern Escape Heli-Skiing Takes the Title of “World’s Best Heli-Ski-Operator” for the 4th Year Running

 4x World’s Best Heli-Skiing Operation near Terrace, BC

(BUSINESS WIRE) -- Northern Escape Heli-Skiing (NEH) has been named World’s Best Heli-Ski Operator 2025 by the World Ski Awards, marking its fourth straight victory following years 2022, 2023 and 2024. This recognition places NEH amongst an elite group of ski tourism operators consistently voted best in the world by industry leaders and enthusiasts alike.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204074550/en/

A four-year run built on reliability

NEH operates in British Columbia’s Skeena Mountains, where deep northern snow and vast terrain come together with small-group heli-skiing and heli snowboarding. When helicopters can’t safely fly, NEH has cat skiing readily available as a backup — an exceedingly rare offering in this industry. The operation spans over 833,571 wild acres of alpine bowls, glaciers and old-growth tree skiing.

The NEH experience

Guests choose from three lodge formats designed for different group styles and expectations:

Yellow Cedar Lodge: four groups of up to 4 guests share two helicopters and stay in a rustic mountain lodge.

Mountain Lodge: two groups of five guests sharing one helicopter at a fly-in contemporary chalet.

Skeena Spey Private: one group, one helicopter, and a fully custom schedule in luxurious, private lodging with a dedicated culinary team, massage therapist, and concierge.

Across all experiences, guests enjoy NEH’s signature combination of culinary excellence, reliable snowpack, and cat-ski backup with unlimited vertical access.

“Northern Escape was one of the best experiences of my life.”

— Janelle Yip, Pro Skier

Season and access

NEH’s operating season runs mid-December to mid-April, with peak storm-cycle powder typically from late December through late January. Travellers reach Terrace, BC (YXT) via a short flight from Vancouver, followed by a quick transfer via shuttle or helicopter.

About the World Ski Awards

The World Ski Awards celebrates excellence across the global ski industry, determining winners through votes cast by tour operators, media, professionals and the public. NEH’s consecutive wins reaffirm its position in the top tier of international ski operators.

Explore the award-winning experience

The 2025-26 season is selling out quickly, so plan now if you want to try the World’s Best Heli-Ski experience this winter. Package details, lodge overviews, and bookings are available at neheliskiing.com.

Northern Escape Heli-Skiing is respectfully operating in the traditional territories of the Kitsumkalum and Kitselas Nations.

 

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Contacts

John Forrest, President and General Manager, john@neheliskiing.com

 

Energy Vault Secures Swiss Market Entry with Signed B-VAULT™ Deployment Contracts for Schindler and Energie Wettingen Projects, Launch of FlexGrid Product for Urban and Utility Applications

 Energy Vault signs two B-VAULT™ contracts in the Swiss market for projects with Schindler Aufzüge AG and Energie Wettingen, marking the launch of Energy Vault’s B-Vault™ FlexGrid program designed for commercial and industrial (C&I) customers

Switzerland is a cornerstone of Energy Vault’s European strategy, with the company moving decisively to expand its presence with multiple projects per year as part of a broader European growth strategy

Integration with CKW’s Flexpool flexibility market set to enable participation in frequency regulation, voltage control, and reactive power markets

The Schindler FlexGrid-enabled B-VAULT system is operating and qualified by Swissgrid

(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the "Company"), a global leader in grid-scale energy storage solutions, today announced its formal entry into the Swiss market with the launch of FlexGrid, a product designed for C&I customers based on a new configuration of its B-VAULT battery energy storage system (BESS) platform that is engineered for 2-25 MW industrial, commercial, and small-utility applications. The launch of FlexGrid is anchored by agreements with Schindler Group and Energie Wettingen AG, which together mark a key milestone in the Company’s strategy to enable distributed, flexible, and community-integrated energy storage infrastructure across Switzerland and Europe.

“With the launch of B-VAULT FlexGrid, we are introducing a compact, modular, easy-to-install, and regulation-ready platform tailored for Europe’s evolving energy landscape,” said Gianmarco Zorloni, Director of Business Development at Energy Vault. “The combination of the Schindler and Wettingen projects illustrates our ability to serve both industrial customers and municipal utilities with a common technology base that adapts to diverse site conditions, from dense urban settings to utility-scale networks. These installations embody what B-VAULT FlexGrid was designed to do: deliver compact, compliant, and intelligent energy storage where it’s needed most, without compromise on performance or community impact. We look forward to continued expansion in the European market as we seek to address the continent’s evolving energy demands.”

At Schindler Group’s global headquarters in Ebikon (Canton of Lucerne), Energy Vault has deployed a 2 MW/2-hour B-VAULT FlexGrid system, the company’s first installation in Switzerland. The project transforms a repurposed fire department depot into a high-tech energy storage hub, supporting Schindler’s corporate sustainability and decarbonization goals. Located within 30 meters of residential buildings, the installation demonstrates how industrial-scale energy storage can safely operate in urban and semi-urban environments. The system incorporates custom acoustic silencers, advanced noise attenuation, and reactive power compensation, ensuring quiet operation, grid stability, and voltage optimization for both Schindler’s manufacturing campus and the surrounding community. The deployment is supported by a 10-year service and maintenance agreement, reflecting both companies’ long-term commitment to reliability and sustainable operations.

Delivered at the beginning of October, the system was fully installed, commissioned, and Swissgrid-qualified in less than four weeks, underscoring Energy Vault’s ability to deliver turnkey systems rapidly and reliably. Schindler selected Energy Vault’s B-VAULT FlexGrid platform for its compact footprint, regulatory readiness, and advanced safety and monitoring capabilities.

“Energy Vault’s solution met our technical, operational, and sustainability requirements from day one,” said Herbert Stadelmann, Head Real Estate & Facility Management at Schindler Aufzüge. “The system’s quiet operation and seamless integration with our solar generation make it a benchmark project for sustainable industrial operations in Switzerland.”

Partnering with Energie Wettingen AG, an independent public utility northwest of Zurich, Energy Vault has also signed an agreement for the supply of an 8 MW/2-hour B-VAULT FlexGrid system designed for stacked, high-density deployment. The Wettingen project features a two-level stacked configuration that doubles energy and power capacity within a limited footprint, achieving 8 MW of installed power for a 2-hour solution in less than 50 square meters. Integrated with VaultOS™, Energy Vault’s proprietary energy management platform, the system will provide system services for Swissgrid, optimize local grid operations, and enable renewable expansion for the municipality.

“We chose the B-VAULT FlexGrid platform from Energy Vault because of its proven product, its modularity, and its seamless integration into our grid,” said Louis Lutz, CEO of Energie Wettingen AG. “This project helps to stabilize the electricity grid in Switzerland and to optimize the management of our own energy and power capacity in Wettingen.”

Both projects will operate under CKW’s Flexpool, Switzerland’s most advanced and diversified flexibility network.

Managed by CKW Group (part of Axpo Group), the Flexpool platform aggregates more than 1,700 assets, 15 technologies, and over 1,000 MW of qualified capacity, making it the largest of its kind in Switzerland. Through Flexpool, Energy Vault’s B-VAULTTM FlexGrid systems will trade frequency regulation, voltage stabilization, and peak-shaving services, contributing directly to Swissgrid’s ancillary markets and to national grid resilience. Before delivery, Energy Vault and CKW conducted advanced testing of the digital interface linking CKW’s Flexpool platform with Energy Vault’s VaultOS™ Energy Management System (EMS). The integration enables real-time monitoring, automated dispatch, and seamless data exchange between Energy Vault’s systems and the Flexpool platform’s aggregation network.

Energy Vault’s entry into Switzerland is supported by the establishment of a regional service and logistics center in Central Switzerland, supporting deployments and after-sales service across the EMEA region. Energy Vault’s Swiss market approach is built around a repeatable, capital-efficient model focused on compact projects, short development cycles, and attached service agreements that generate recurring revenues and long-term asset reliability.

The company’s global B-VAULT™ portfolio now exceeds 2 GWh of deployed or contracted systems, spanning Europe, North America, and Asia, and is complemented by Energy Vault’s gravity and hydrogen storage platforms for multi-duration energy applications.

About Energy Vault

Energy Vault® develops, deploys and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company’s technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Since 2024, Energy Vault has executed an “Own & Operate” asset management strategy developed to generate predictable, recurring and high margin tolling revenue streams, positioning the Company for continued growth in the rapidly evolving energy storage asset infrastructure market. Please visit www.energyvault.com for more information.

About Schindler Aufzüge AG

The Schindler Group is a globally active provider of mobility solutions. It supplies elevators, escalators, and associated services in the field of vertical transportation. With operations in more than 100 countries, Schindler is committed to safety, innovation, and sustainability in urban mobility solutions. The company combines engineering, innovation, digitalization, and service excellence to modernize and operate millions of installations worldwide, contributing to efficient and sustainable buildings.

About Wettingen Energie AG

Energie Wettingen AG is wholly owned by the municipality of Wettingen. Its main task is the safe and reliable supply of Wettingen with electricity and drinking water. It supplies more than 13,000 customers in Wettingen. It is deeply rooted in the region. As an energy service provider, it supports its customers on their path toward an environmentally friendly and resource-conserving future.

About CKW

The CKW Group is part of the Axpo Group and a leading Swiss provider of integrated energy and building technology solutions. For 130 years, the company has been supplying climate-friendly electricity and district heating to its now over 200,000 end customers from the cantons of Lucerne and Schwyz. In addition, it offers innovative products and services throughout Switzerland in the areas of grid construction, electrical engineering, photovoltaics, heat technology, e-mobility, building automation, ICT solutions and security. The CKW Group has more than 2,200 employees throughout Switzerland, including around 350 apprentices in 15 professions. It is the largest private sector trainer of apprentices in central Switzerland.

Forward-Looking Statements

This press release includes forward-looking statements that reflect the Company’s current views with respect to, among other things, the Company’s operations and financial performance, including the future revenue and profitability projections, the availability of future draws under the OIC preferred stock commitment to Asset Vault, the timeline to deploy Asset Vault capital, the structure of Asset Vault, and the cost per kilowatt hour achievable by Energy Vault. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “project,” “forecast,” “estimates,” “targets,” “projections,” “should,” “could,” “would,” “may,” “might,” “will” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans, and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the failure to execute definitive agreements or meet conditions for future funding draws, changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the uncertainty of our awards, bookings, backlog, timing of permits and developed pipeline equating to future revenue; the lack of assurance that non-binding letters of intent and other indication of interest can result in binding orders or sales; the possibility of our products to be or alleged to be defective or experience other failures; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the ability of our suppliers to deliver necessary components or raw materials for construction of our energy storage systems in a timely manner; the impact of health epidemics, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; the international nature of our operations and the impact of war or other hostilities on our business and global markets; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 1, 2025, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.

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Contacts

Energy Vault Contacts

Investors

energyvaultIR@icrinc.com

Media

media@energyvault.com

Galderma Opens up New Chapter for Sculptra® with MDR Certification and New Expanded Indication for Body

ZUG, Switzerland - Friday, 05. December 2025

Sculptra®, the first proven regenerative biostimulator, has received European Union (EU) Medical Device Regulation (MDR) certification, expanding its current clinical application for the face to include gluteal area, posterior thighs, décolletage, and upper arms1

Studies investigating the efficacy of Sculptra on areas beyond the face show patients experienced progressive improvements in skin quality (including the improvement in cellulite appearance), firmness, lift, projection, and contour

Sculptra’s versatility and new indication allow practitioners to shift patient treatment goals beyond rejuvenation toward enhancement, meeting evolving patient needs

The certification validates Sculptra’s safety performance, efficacy, and quality, reinforcing Galderma’s commitment to innovation and meeting evolving patient needs

 

(BUSINESS WIRE) -- Galderma (SIX: GALD), the pure-play dermatology category leader, today announced the certification of Sculptra for body indications in the European Union (EU) following its certification under the EU Medical Device Regulation (MDR). This expands Sculptra’s current clinical use on the face, to include four new areas: gluteal area, posterior thighs, décolletage, and upper arms. Sculptra can be used across these areas to address varied treatment goals – from improving skin quality (including the improvement in cellulite appearance), to enhancing firmness, as well as lift, projection, and contouring.1-5 Sculptra’s versatility allows practitioners to meet each patient’s unique needs, delivering natural-looking, long-lasting improvements across face and body.

Meeting the moment: evolving patient needs

As aesthetic expectations shift, patients are seeking more holistic treatment approaches that address the body as well as the face. Nine out of ten women report aesthetic concerns beyond the face, including skin laxity, volume loss, and cellulite.6 The gluteal silhouette, in particular, is a focal point of beauty and confidence, with growing demand for non-surgical treatments that enhance its shape and definition.7 Sculptra’s regenerative effects on collagen and elastin as well as its ability to restore skin quality (including the improvement in cellulite appearance), firmness, lift, projection, and contour make it uniquely suited to meet these evolving needs.1-5,8-12

 

“Sculptra’s new and expanded indications mark an important evolution in how we approach aesthetic medicine – moving from facial rejuvenation to full-body restoration. With its proven ability to improve firmness, volume, and skin quality beyond the face, this certification empowers us to treat our patients more holistically, combining science, artistry, and confidence in a truly individualized way.”

 

FLAVIA RADKE, M.D.

PLASTIC SURGEON

VITA AESTHETICA, GERMANY

 

 

In studies focused on areas such as the gluteal area, posterior thighs, décolletage, and upper arms, patients treated with Sculptra experienced progressive improvements in skin quality (including the improvement in cellulite appearance), firmness, lift, projection, and contour.2-5 Improvements were visible as early as one month after treatment and studies showed that:

In the buttocks, 84% of patients were rated as having “improved” or more by physicians using the Global Assessment of Improvement Scale at six months and 96% reported high satisfaction3

In the thighs, visible improvements were seen as early as one month after treatment, and, at one year, 100% of patients noted visual improvements, and 93% reported reduced sagginess, with 97% of patients expressing they were satisfied with the appearance of their thighs and 83% indicating they would choose to do it again4

In the décolletage, 13% of patients saw a reduction in wrinkling at Month 1 and wrinkle severity visibly decreased in 93% of patients by Month 9. More than 80% of patients were satisfied with the improved quality (including texture and firmness) of their skin2

In the upper arms, visible improvement in skin firmness and quality was seen just two months after a three-session treatment and patients were satisfied with the treatment5

 

“The certification of Sculptra for body indications in the EU marks an exciting evolution in injectable aesthetics. With these new body indications extending Sculptra's trusted profile beyond the face, we are empowering practitioners to deliver natural-looking, long-lasting results across broader treatment areas, reinforcing Galderma’s commitment to innovation and holistic patient care.”

 

FLEMMING ØRNSKOV, M.D., MPH

CHIEF EXECUTIVE OFFICER

GALDERMA

 

 

The broadest aesthetics portfolio backed by science, reinforcing Galderma’s commitment to continuous innovation and regulatory excellence

The EU MDR certification is part of Galderma’s broader MDR transition strategy, which encompasses its full portfolio of aesthetic injectables, such as its Restylane® hyaluronic acid injectables, and dermatological devices. It confirms that Sculptra meets the highest standards of safety, performance, and quality under the updated regulatory framework. While this milestone supports Sculptra’s certification for body indications, it also reinforces Galderma’s broader commitment to delivering innovative, safe and science-backed solutions across its aesthetics portfolio.

First approved in the EU in 1999, Sculptra pioneered a new approach to volume restoration by stimulating the body’s own collagen production.1,13,14 Over the past 25 years, it has evolved into a versatile treatment that delivers regenerative benefits across all three skin layers, making it the first proven regenerative biostimulator. With its expanded indication, Sculptra brings its trusted efficacy to the body, offering patients and practitioners a new opportunity to achieve holistic, full-body aesthetic care.

This material refers only to the product certified under Regulation (EU) 2017/745 (MDR). Legacy versions of the product remain available. For full product information and the Instructions for Use (IFU), visit: https://www.galderma.com/sites/default/files/2025-12/IFU_Sculptra_MDR.pdf

About Sculptra

Sculptra is the first proven regenerative biostimulator, with a unique poly-L-lactic acid (PLLA-SCA™) formulation, to provide, progressive, and sustained regenerative effect across all three skin layers.1,10-16 Sculptra reverses aging processes in the skin, including degradation of the extracellular matrix, which results in volume loss, laxity, and the appearance of wrinkles.1,10,11,17-19 Sculptra progressively rebuilds the skin’s structural foundation by encouraging the remodeling of components of the extracellular matrix, such as elastin and collagen, helping to gradually restore volume, firmness, radiance and skin quality, and the look of fullness to wrinkles and folds over time.1-5,10,11,20 Sculptra has been shown to provide visible improvements as early as one month after treatment, with results lasting up to two years.1,4,9,15,20

About Galderma

Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: www.galderma.com.

Sculptra®. EU Instructions for Use. 2025. Available online. Accessed December 2025.

Galderma. Data on File (MA-57540).

Nikolis A, et al. A Prospective, Multicenter Trial on the Efficacy and Safety of Poly-L-Lactic Acid for the Treatment of Contour Deformities of the Buttock Regions. J Drugs Dermatol. 2022;21(3):295–303.

Beleznay K, et al. Safety and Effectiveness of Poly-L-lactic acid (PLLA-SCA) for the Improvement in Appearance of Cellulite – A Pilot Study. Poster presented at the IMCAS World Congress; February 1-3, 2024; Paris, France.

Mazzuco R, et al. Clinical and Histological comparative outcomes after injections of Poly-L-Lactic Acid and Calcium Hydroxyapatite in arms – a split side study. J Cosmet Dermatol. 2022;21(12): 6727–6733.

IFOP for NSH - Skin Quality Concerns - September 2019.

De la Peña JA, et al. History of gluteal augmentation. Clin Plast Surg. 2006 Jul;33(3):307-19.

Galderma. Date on File (MA-60875).

Goldberg D, et al. Single-arm study for the characterization of human tissue response to injectable poly-L-lactic acid. Dermatol Surg. 2013;39(6):915–922.

Waibel J, et al. Bulk RNA-seq Analysis of Poly-L-Lactic Acid (PLLA-SCA) vs Calcium Hydroxyapetite (CaHA-R) Reveals a Novel, Adipocyte Mediated Regenerative Mechanism of Action Unique to PLLA. Poster presented at ASDS 2024 Annual Meeting; October 17-20, 2024; Orlando, Florida, United States.

Waibel J, et al. Gene Analysis of Biostimulators: PLLA-SCA Triggers Regenerative Morphogenesis while CaHA-R Induces Inflammation upon Facial Injection. Poster presented at ASDS 2024; October 17-20, 2024; Orlando, Florida, United States.

Huth S, et al. Molecular Insights into the effects of PLLA_SCA on Gene Expression. J Drugs Dermatol. 2024;23(4):285–288.

Galderma. Data on File (MA-46589).

Vleggaar D, et al. Consensus recommendations on the use of injectable poly-L-lactic-acid for facial and nonfacial volumization. J Drugs Dermatol. 2014;13(4 Suppl):s44–s51.

Widgegrow J, et al. A randomized, comparative study describing the gene signatures of poly-l-lactic acid (PLLA-SCA) and calcium hydroxylapaptite (CaHA) in the treatment of nasolabial folds). Poster presented at IMCAS World Congress; February 1-3, 2024. Paris, France.

Duracinsky M, et al. Safety of poly-L-lactic acid (New-Fill®) in the treatment of facial lipoatrophy: a large observational study among HIV-positive patients. BMC Infect Dis. 2014;14(474).

Zhang S and Duan E. Fighting against Skin Aging: The Way from Bench to Bedside. Cell Transplant. 2018;27(5):729–738.

Shuster S, et al. The influence of age and sex on skin thickness, skin collagen and density. Br J Dermatol. 1975;93(6):639-43.

Zarbafian M, et al. The emerging field of regenerative aesthetics—where we are now. Dermatol Surg. 2022;48:101–108.

Fabi S, et al. 24-month clinical trial data on effectiveness and safety after correction of cheek wrinkles using a biostimulatory poly-L-lactic acid injectable implant. Poster presented at IMCAS World Congress; January 26-28, 2023; Paris, France.

 

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Contacts

For further information:

Christian Marcoux, M.Sc.

Chief Communications Officer

christian.marcoux@galderma.com

+41 76 315 26 50

Richard Harbinson

Corporate Communications Director

richard.harbinson@galderma.com

+41 76 210 60 62

Céline Buguet

Franchises and R&D Communications Director

celine.buguet@galderma.com

+41 76 249 90 87

Emil Ivanov

Head of Strategy, Investor Relations, and ESG

emil.ivanov@galderma.com

+41 21 642 78 12

Jessica Cohen

Investor Relations and Strategy Director

jessica.cohen@galderma.com

+41 21 642 76 43

Cross-Border Private Credit Set to Surge, But Operational Complexity Threatens Momentum, CSC Finds

 79% of GPs expect cross-border private credit deals to grow over the next three years, with more than half forecasting rapid acceleration

40% of LPs rejected private credit investment opportunities last year due to reporting or operational concerns

92% of LPs say specialist outsourcing enhances transparency

 

(BUSINESS WIRE) -- Cross-border private credit transactions are poised for strong growth, yet operational complexity is emerging as a critical hurdle. According to CSC, the leading provider of business administration and compliance solutions, an overwhelming 92% of limited partners (LPs) express concern over the complexity of these deals.

Published in CSC’s latest report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, the findings highlight a growing disconnect between investors and fund managers as private credit continues its rapid international expansion. 1

While both LPs and general partners (GPs) remain optimistic about the growth of cross-border private credit, they diverge sharply when it comes to operational readiness. Nearly eight in 10 GPs (79%) anticipate growth in the sector over the next three years, with more than half (51%) expecting a significant acceleration. LPs, however, are increasingly cautious—40% reported turning down multiple fund or investment opportunities last year due to operational concerns such as inconsistent reporting standards and unclear risk frameworks.

“The global expansion of private credit is undeniable, but the operational complexity it brings must not be underestimated,” said Bas Coenen, CSC’s head of Fund Solutions, Europe. “Operating across multiple jurisdictions introduces a maze of reporting requirements, investor expectations, and compliance standards. Even managing a handful of markets can prove challenging. The message from investors is clear: confidence in cross-border strategies hinges on transparency, regulatory alignment, and flawless execution.”

GPs recognize the operational challenges that come with cross-border expansion—particularly around anti-money laundering (AML) regulations, multijurisdictional reporting, and enforcing covenants across diverse legal systems. Transparency and reporting demands from LPs now rank among managers’ top concerns, second only to the complexity of deal structuring.

At the same time, LPs are shifting their priorities toward more granular and consistent data on loan performance and borrower credit quality. These metrics now rank just behind loan-level returns and borrower payment trends, while broader measures such as liquidity and portfolio risk visibility are being assessed through this more granular data.

To meet rising expectations and scale effectively, many GPs are investing in technology upgrades and partnering with specialist service providers. Currently, 82% rely on third-party loan agents, with 66% doing so regularly over the past year, and 88% expect usage to increase. LPs strongly endorse this shift: 92% believe GPs who outsource to trusted specialists are better equipped to deliver enhanced reporting and risk transparency, especially in complex cross-border environments.

“Private credit is inherently a hands-on asset class - far more operationally intensive than equity investing,” said CSC’s David Kim, managing director, North America. “LPs know the data is available, and they’re demanding more of it—greater transparency, consistency, and detail. That’s putting real pressure on managers to elevate their reporting capabilities and strengthen operational frameworks.”

He added: “Many are now seeking partners who can support them across the full investment life cycle, from loan agency and fund administration to SPV management. CSC is among the few with the scale, expertise, and infrastructure to deliver truly end-to-end solutions.”

To receive a copy of CSC’s Private Credit 2025: Global Strategies for a $1.5 Trillion Market, please download it at cscglobal.com/service/campaigns/private-credit-2025.

1CSC, in partnership with PureProfile, surveyed 500 private capital professionals globally, comprising 300 GPs and 200 LPs across North America, Europe (including the U.K.), and Asia-Pacific. Respondents held senior positions within fund management, investment, and risk functions across asset management, pension funds, insurance, and wealth management sectors.

About CSC

CSC is the leading provider of business administration and compliance solutions, offering industry-leading expertise and unmatched global reach to alternative fund managers and capital markets participants. Leveraging deep institutional experience and a tailored approach, CSC delivers a comprehensive suite of fund administration, trust, agency, and compliance services to support a wide range of private and public market transactions, complex fund strategies, and scalable operations.

As the trusted partner of choice for more than 70% of the PEI 300 and 90% of the Fortune 500®, CSC helps clients navigate operational and transactional complexities across more than 140 jurisdictions and various asset classes. With extensive worldwide capabilities, our expert teams provide solutions tailored to each client’s needs. Privately held and professionally managed since 1899, we combine global reach, local expertise, and innovative solutions to help our clients succeed.

We are the business behind business®. Learn more at cscglobal.com.

 

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For more information:

Citigate Dewe Rogerson

Hassan Ali / Thomas Dalton

cscteam@cdrconsultancy.com

CSC

Katie Scott-Kurti

Head of Brand and Communications

katie.scottkurti@cscglobal.com

CSC News Room