Valeant buys cosmetic surgery devices company for $250 million

Valeant Pharmaceuticals is seeking to strengthen its cosmetics business with an agreement to buy Solta Medical for about US$250 million.

The Montreal, Canada-based pharma – which also has interests in dermatology, eye health, neurology and branded generics – paid cash for the “friendly” acquisition of the California, US-based specialist in devices for cosmetic surgery.

The cash transaction under the definitive agreement represents a 40% premium over Solta’s closing share price on December 13th. Valeant describes the acquired business as a global leader in the medical aesthetics market.

“The addition of Solta’s industry-leading brands and global sales organization creates a very compelling platform for future growth in the medical aesthetic segment. Our entire team looks forward to executing a smooth transition of our operations into the Valeant organization.”

J. Michael Pearson, chairman and chief executive, Valeant.

 

Related news:

Valeant Pharma strikes US$250-million friendly deal to buy Solta Medical (The Gazette, Montreal).

Reference links:

Valeant Pharmaceuticals agrees to acquire Solta Medical for $2.92 per share in cash (Valeant company press release).

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