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Valeant Pharmaceuticals acquires Solta Medical

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Valeant Pharmaceuticals International announced it has completed acquisition of Solta Medical for approximately $250 million.

Solta became a wholly owned subsidiary of Valeant Pharmaceuticals with the purchase of Solta’s outstanding stock at $2.92 per share in cash, according to a press release.

Solta announced on its website that it will retain its name, and its products will become part of Valeant’s aesthetics portfolio. Solta’s medical device systems for aesthetic applications include the Thermage CPT system, which uses radiofrequency energy to tighten skin, the Fraxel repair system for ablation, coagulation and resurfacing of soft tissue, and the Liposonix system to destroy fat cells for waistline reduction.