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Allergan to acquire Acelity’s LifeCell for $2.9 billion
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Allergan is set to acquire the LifeCell regenerative medicine company from Acelity for $2.9 billion in cash, according to a press release.
The agreement includes LifeCell’s commercial products, key amongst which are Alloderm, Revolve, Strattice and Artia, as well as its manufacturing capabilities and research and design operations.
Allergan anticipates the LifeCell assets will generate approximately $450 million in 2016 revenue, growing at a mid-single digit rate, approximately 75% gross margin and approximately 40% operating margin in 2016, according to the release.
“The acquisition of LifeCell is both strategically and financially compelling to Allergan and serves as our entry point into regenerative medicine as we create a world-class aesthetic and regenerative medicine business in plastic surgery. LifeCell's regenerative medicine unit is a strong fit with our existing business and can be significantly strengthened with our infrastructure and global reach,” Brent Saunders, chairman and CEO of Allergan, said in the release. “This acquisition is an immediately accretive investment that enhances our near-term and long-term growth profile with products that enjoy strong sales and are the leading choices for surgeons who rely on them for successful surgical procedures.”
Allergan anticipates closing the transaction during the first half of 2017.
Reference: www.allergan.com