Galderma announces that it has signed a definitive agreement to acquire ALASTIN Skincare Inc, a specialty aesthetics company dedicated to developing innovative and clinically tested physician-dispensed skincare products.
The acquisition is subject to customary closing conditions and necessary regulatory approvals. Financial terms of the transaction have not been disclosed.
ALASTIN’s skincare portfolio is fully incremental to and synergistic with Galderma’s integrated dermatology platform. Founded in 2015, ALASTIN provides a comprehensive collection of cutting-edge, scientifically proven products for daily skincare regimens and peri-procedural use.
ALASTIN’s product offerings are backed by its patented TriHex Technology, a proprietary blend of peptides and active botanicals to support the appearance of rejuvenated skin. Since inception, ALASTIN has delivered rapid and consistent sales growth, achieving a CAGR of 106% between 2016 and 2020.
ALASTIN Skincare was ranked the No. 1 preferred skincare brand in a blinded survey of physicians who carry ALASTIN and other skincare brands, conducted by Corsica Life Sciences in December 2020. The company was named as one of Forbes best start-up employers in America in 2020 and 2021 and was named as one of the fastest growing private companies in America on the INC 5000 2020 and 2021 lists.
“Galderma’s business consistently delivers strong results and remains at the forefront of this rapidly expanding market, driven by increasing consumer interest and acceptance of aesthetic procedures. The addition of ALASTIN, with its synergistic portfolio and expertise in science-proven skincare, increases our ability to serve the needs of consumers and underscores our commitment to be the partner of choice for aesthetic professionals.
“This transaction will further enhance our premium product offering and provides a tremendous platform for future growth. We look forward to welcoming the ALASTIN team into Galderma and partnering with them to advance the science of dermatology together.”— Flemming Ørnskov, MD, MPH, Chief Executive Officer, Galderma
By leveraging its global reach and integrated dermatology platform, Galderma will unlock ALASTIN’s next growth phase as it reaches more healthcare professionals and consumers more effectively. Galderma will also support further product innovation of ALASTIN’s portfolio, while simultaneously enabling cross-selling opportunities for ALASTIN’s products and technologies in the US. Combining Galderma’s pipeline and track record of first-to-market innovation with ALASTIN’s proprietary and award-winning skincare technology represents an opportunity for Galderma to better meet the needs of aesthetic professionals and patients.
“We are thrilled to become part of Galderma for the next stage of ALASTIN’s growth story. We share the same vision of bringing the highest levels of science and innovation to the professional skincare market, and I look forward to working with the team to leverage Galderma’s expertise in this space to drive the ALASTIN Skincare brand to new heights.”— Diane S. Goostree, President and CEO, Alastin Skincare
[Source(s): Galderma, Alastin, Business Wire]