Bio-pharmaceutical company Allergan has completed the previously announced acquisition of US-based Acelity’s regenerative medicine unit LifeCell for approximately $2.9bn.
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With the acquisition, Allergan will add LifeCell's regenerative medicines business and dermal matrix products to its portfolio of medical aesthetic products, breast implants and tissue expanders.
These product lines are jointly expected to create a new aesthetic and regenerative medicine business.
The acquisition was announced in December last year and is set to immediately add accretive revenues from leading accelular dermal matrix and fat grafting products.
Allergan chairman and CEO Brent Saunders said: "The completion of the LifeCell acquisition is an important milestone for Allergan, serving as our entry point into regenerative medicine as we continue to add to our world-class aesthetic and plastic surgery business.
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By GlobalData“The combination of LifeCell's novel regenerative medicine products coupled with Allergan's innovative medical aesthetics and plastic surgery portfolio creates a complete product offering for plastic surgeons globally."
The commercial portfolio of LifeCell features Acellular Dermal Matrices that are commonly used in breast reconstruction procedures and complex hernia surgeries. Key products include Alloderm and Revolve.
LifeCell markets a porcine-based tissue matrix known as Strattice, which is used in complex abdominal wall repair and also for the surgical repair of damaged or ruptured soft tissue.
Allergan has also acquired the manufacturing capabilities and R&D operations of LifeCell in New Jersey.
Image: Acelity headquarters in San Antonio, Texas. Photo: courtesy of LEHarper2016.
