- The transaction implies a cash acquisition of 100% of ThermiGen for an Enterprise Value of $82 million.
- Provides Almirall with a commercial platform in the energy-based medical device segment with significant growth potential in multiple indications.
- ThermiGen is a leading developer of unique radio frequency technology solutions for Aesthetics Dermatology and Plastic Surgery.
Almirall,
S.A., the global pharmaceutical company based in Barcelona, today
announced the completion of the acquisition of 100% of the share capital
of ThermiGen LLC, after all closing
conditions have been satisfied. In accordance with the terms of the
agreement signed in September 2015, the transaction has been fulfilled and Almirall
now owns this medical aesthetics company, which is a leading developer
of thermistor-regulated energy systems for Aesthetics Dermatology and
Plastic Surgery applications.
Under the terms of the agreement, Almirall has acquired ThermiGen for an Enterprise Value of $82 million This acquisition represents the definitive entry of Almirall into the aesthetics market, an industry with potential global sales in high growth dermatological indications. The addition of ThermiGen’s portfolio provides Almirall
with a solid technology and commercial platform in the energy-based
devices segment; a recurrent business model and an experienced
management team with a proven track record. In 2014, ThermiGen had $11.4 million of revenue and has already closed 2015 with nearly $30 million in sales and positive operating results.
Almirall announced the exercise of a call option on January 4th 2016. Previously, in September 2015, Almirall acquired a minority stake in ThermiGen
for $5 million representing 7.7% of the share capital of the company
and paid $2.5 million in exchange of a call option right to acquire up
to 100% of the company, now completed.
About Almirall
Almirall
is a global company based in Barcelona dedicated to providing valuable
medicines and medical devices through its R&D, agreements and
alliances. Our work covers the whole of the drug value chain. A
consolidated growth allows us to devote our talent and efforts towards
specialty areas and particularly to further grow as a leading
dermatology player. Our size enables us to be agile and flexible so that
we can accomplish the purpose of taking our innovative products
wherever they are needed.
Founded in 1943, Almirall
is listed on the Spanish Stock Exchange (ticker: ALM) and it has become
a source of value creation for society due to its vision and the
commitment of its long-standing major shareholders. In 2014, its
revenues totaled 1,407 million euros and, with more than 2,100
employees, it has gradually built up a trusted presence across Europe,
as well as in the US and Mexico.
For more information, please visit www.almirall.com
About Thermi
The Thermi flagship product is the ThermiRF®,
Temperature Controlled Radio Frequency Generator System, which is FDA
cleared for dermatological and general surgical procedures for
electrocoagulation and hemostasis, and to create lesions in nervous
tissue. ThermiRF®, is an advanced technology using finely controlled thermal energy. It is a multi-use platform which
uses proprietary hand pieces designed for specific medical applications
and promotes increased patient safety and clinical effectiveness, while
providing versatile solutions for physicians serving the aesthetic
market.
The
Thermi250® also employs temperature-controlled radio frequency using a
specially designed thermistor’s regulated hand piece, which delivers
precise heating to the skin’s surface.
For more information, please visit www.thermi.com
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