Valeant Pharmaceuticals announced today that it has entered into an agreement to acquire Solta Medical, a developer of energy-based medical devices for aesthetic applications. The transaction will take the form of an all-cash buyout of the outstanding shares of Solta common stock, at a price of $2.92 per share, for a total estimated value of $250 million. The transaction is expected to close during the first quarter of 2014.
Solta Medical manufactures devices such as Fraxel, Thermage CPT, Liposonix, and Claro for aesthetic applications including skin resurfacing, skin tightening, body contouring, and acne treatment. Valeant is an international pharmaceutical company with a wide range of product offerings, including prescription dermatology products. According to its press release, Valeant states that, when combined with its existing product portfolio, the acquisition of Solta’s branded devices will create the “broadest aesthetic portfolio in the industry.”
This announcement follows on the heels of Valeant’s $8.7 billion all-cash acquisition of the eye health giant, Bausch + Lomb (estimated 2013 net revenue of $3.5 billion). That transaction, which Valeant announced on May 27, 2013, closed on August 5, 2013.