Allergan and Acelity announced that they have entered into a definitive agreement under which Allergan has agreed to acquire the regenerative medicine company LifeCell for $2.9 billion in cash, subject to customary adjustments.
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. 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 intended 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. LifeCell also markets porcine-based tissue matirces Strattice and Artia. Allergan will also acquire LifeCell’s manufacturing and R&D operations, based in New Jersey.
“LifeCell’s regenerative medicine unit is a strong fit with our existing business and can be significantly strengthened with our infrastructure and global reach,” said Brent Saunders, chairman and CEO of Allergan.
“The LifeCell brand leads the industry for safety, efficacy and superior clinical results, and we are pleased to have found the perfect partner for LifeCell in Allergan,” said Joe Woody, Acelity president and CEO.
Allergan anticipates closing the transaction during the first half of 2017.
