Allergan Completes $2.4-Billion Zeltiq Buy
Allergan has completed the previously announced acquisition of Zeltiq Aesthetics, a Pleasanton, California-headquartered medical technology company that specializes in a proprietary controlled-cooling fat reducing treatment, for approximately $2.4 billion in cash. The acquisition boosts Allergan’s medial aesthetics portfolio.
Zeltiq stockholders approved the transaction during a stockholder meeting in April 2017. With the acquisition, Allergan adds Zeltiq’s proprietary CoolSculpting System, a US Food and Drug Administration approved non-surgical cooling technology that affects appearance through lipolysis or reduction of unwanted fat. CoolSculpting is marketed in more than 80 countries with entry into additional markets expected in 2017 and 2018.