Allergan to acquire Zeltiq, CoolSculpting body contouring system

Allergan announced in a press release today that it has agreed to acquire Zeltiq Aesthetics for $56.50 per share or $2.475 billion.

Zeltiq is a medical technology company focused on developing and commercializing products that utilize its proprietary-controlled cooling technology platform. The acquisition will include Zeltiq’s CoolSculpting System, the sales leader in the cash pay body contouring segment of medical aesthetics, according to the release.

CoolScultpting is FDA-cleared to affect appearance through lipolysis or reduction of unwanted fat through the patented technology. It gently cools targeted fat cells in the body to induce a controlled elimination of fat cells without affecting the surrounding tissue, according to the release.

Body contouring is a $4 billion market opportunity worldwide, according to Allergan.

“With CoolSculpting, our offerings to plastic surgeons, dermatologists and aesthetic practitioners will now extend to three of the largest and fastest growing segments of their practices, putting Allergan in a unique position to provide expanded customer service, and help meet the needs of patients,” Brent Saunders, chairman and CEO of Allergan stated in the release.

The acquisition is subject to customary adjustments, approval of the shareholders of Zeltiq and other conditions, according to the release. Allergan reported it expects the transaction to close in the second half of 2017.

Reference: www.allergan.com