Allergan has announced that it is in the process of acquiring ZELTIQ Aesthetics in a move that will see body contouring solutions added to its own aesthetics portfolio.
The biopharmaceutical firm will be purchasing ZELTIQ in a deal worth $2.475 billion (1.985 billion pounds), equivalent to a price of $56.50 per share.
“Allergan has announced plans to acquire body contouring specialist ZELTIQ.“
Allergan is particularly interested in gaining access to the CoolSculpting System developed by ZELTIQ, which uses specialist technology to carry out lipolysis procedures to remove unwanted fat from the body. The solution works by cooling fat cells in order to encourage them to disappear naturally.
Brent Saunders, chairman and chief executive officer of Allergan, commented: "By adding the best-in-class body contouring CoolSculpting System to our best-in-class facial aesthetics, plastic surgery and regenerative medicine offerings, we are creating a world-class aesthetics business."
With the global body contouring market currently worth an estimated $4 billion in total, Allergan's move highlights how the worlds of aesthetics and medicine are increasingly merging.
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