Date: 2016-12-20
Type of information: Company acquisition
Acquired company: LifeCell Corporation (USA - NJ)
Acquiring company: Allergan (Ireland)
Amount: $2.9 Billion
Terms: * On December 20, 2016, Allergan and Acelity announced that they have entered into a definitive agreement under which Allergan has agreed to acquire the regenerative medicines company LifeCell for $2.9 billion in cash, subject to customary adjustments. Allergan anticipates the LifeCell assets will generate approximately $450 million in 2016 revenue, growing at a mid-single digit rate, approximately 75% gross margin and approximately 40% operating margin in 2016. In addition to its commercial products, upon close Allergan will also acquire LifeCell’s
innovative manufacturing capabilities and its R&D operations, based in New Jersey.
Allergan’s acquisition of LifeCell 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, Allergan currently anticipates closing the transaction during the first half of 2017.
Guggenheim Securities and Barclays are serving as financial advisors to Allergan and Debevoise & Plimpton LLP is serving as Allergan's lead legal counsel.
Details: The acquisition combines LifeCell’s novel, regenerative medicines business, including its portfolio of dermal matrix products with Allergan’s portfolio of medical aesthetics, breast implants and tissue expanders. Additionally, LifeCell markets Strattice™, a porcine based tissue matrix used in complex abdominal wall repair and for the surgical repair of damaged or ruptured soft tissue. LifeCell has also developed Artia™, a porcine based tissue matrix which is approved and launched in some European markets.
LifeCell’s commercial portfolio features Acellular Dermal Matrices, commonly used in breast reconstruction procedures and complex hernia surgeries to provide soft tissue support. Key products include Alloderm®, a human allograft tissue matrix which is intended to be used for repair or replacement of damaged or inadequate soft tissue, including breast reconstruction post-mastectomy; and Revolve™, a single use high-volume fat grafting device that uses patients’ own fat to enhance volume in plastic and reconstructive procedures.
Related: Regenerative medicine
