Almirall Acquires Thermi

Barcelona-based pharmaceutical company Almirall has announced the completion of the acquisition of 100% of the share capital of ThermiGen LLC after all closing conditions have been satisfied. Under the terms of the agreement, Almirall has acquired ThermiGen for an enterprise value of $82 million—this represents the definitive entry of Almirall into the aesthetics market.

Almirall had announced the exercise of a call option on January 4, 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.

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