In a deal expected to close in the first quarter of 2014, Valeant International Inc has purchased Solta Medical Inc for an all-cash $250-million (US) deal, according to media reports.
The move will help expand Valeant’s growing footprint in the aesthetic space. The company acquired all of the outstanding common stock of Solta for $2.92 per share in cash, which represents a 40% premium to Solta’s closing share price on December 13. Solta’s products include the Thermage CPT, the Fraxel repair system, the Clear + Brilliant, and the Liposonix system.
“The acquisition of Solta will bring tremendous value to Valeant’s current aesthetic portfolio, and together with our previous acquisitions, will create the broadest aesthetic portfolio in the industry,” says Valeant CEO Michael Pearson, in a statement.
Plastic Surgery Practice has been following Valeant’s moves closely in recent months. Read our exclusive interview with Ryan Weldon, president of Valeant-acquired Medicis here.