Soliton is said to expand and complement Allergan Aesthetics' body contouring treatment portfolio
AbbVie company Allergan Aesthetics has agreed to acquire medical device company Soliton for an enterprise value of up to $550m.
The deal allows the company to acquire Soliton’s RESONIC rapid acoustic pulse (RAP) device, which recently secured 510(k) clearance from the US Food and Drug Administration (FDA).
RESONIC is used as a non-invasive treatment for the short-term improvement in the appearance of cellulite. It is approved for use in conjunction with laser for tattoo removal.
The non-invasive rapid and high-frequency sound waves are used by the novel platform technology for the disruption of targeted cellular structures and connective tissue.
It will help impact the fibrous septae beneath the skin, which results in the dimpled appearance of cellulite.
Soliton executive chairman Walter Klemp said: “Allergan Aesthetics’ brand recognition, global footprint, track record and commitment to developing best-in-class aesthetic treatments makes the Company ideally suited to maximize the commercial potential of the RESONIC rapid acoustic pulse technology.
“I am proud of the passion and accomplishments of the Soliton team and thankful for the ongoing support of our investors which have culminated in this transaction. We look forward to working with Allergan Aesthetics to ensure a successful completion of this transaction.”
Soliton is said to expand and complement Allergan Aesthetics’ body contouring treatment portfolio, which consists of CoolSculpting Elite.
The deal is subject to customary closing conditions, including clearance by the US antitrust authorities under the Hart-Scott-Rodino Act and approval of Soliton’s shareholders.
Guggenheim Securities acted as financial advisor to Soliton, while Hogan Lovells served as its legal counsel.
Allergan Aesthetics is engaged in the development, manufacturing and marketing of aesthetics brands and products. Its portfolio includes facial injectables, body contouring, plastics, skin care, and others.