Allergan to Acquire Regenerative Medicine Company for $2.9 BillionBy
Allergan has agreed to acquire the LifeCell regenerative medicines business of Acelity, a San Antonio, Texas-headquartered wound care and regenerative medicine company, for $2.9 billion in cash, subject to customary adjustments.
Upon completion of the transaction, Allergan will gain LifeCell’s commercial regenerative medicine and reconstructive surgery portfolio, which will be combined with Allergan’s medical aesthetics, breast implants, and tissue expanders portfolio. In addition to its commercial products, Allergan will also acquire LifeCell’s manufacturing capabilities and its research and development operations based in New Jersey upon closing.
The LifeCell portfolio encompasses regenerative and reconstructive acellular tissue matrices for repair of soft tissue defects, as well as autologous fat-grafting solutions. Leading products include Alloderm regenerative tissue matrix, a human allograft tissue matrix which allows for intact repair in breast reconstruction post-mastectomy procedures and other surgical applications; Revolve, a single-use high-volume fat-grafting device that uses patients’ own fat to enhance volume in plastic and reconstructive procedures; and Strattice reconstructive tissue, a porcine-based tissue matrix for reinforcing soft tissue in hernia repair procedures. In addition, LifeCell has also developed Artia, a porcine-based tissue matrix approved and launched in some European markets.
Until the transaction is finalized, Acelity will continue to manage the LifeCell business. The transaction is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and fulfillment of certain other customary conditions to closing. Pending such approvals and fulfillment of other conditions, the transaction is expected to close in the first half of 2017.
Allergan anticipates the LifeCell assets will generate approximately $450 million in 2016 revenue.