The Soliton acquisition adds RESONIC technology platform for improvement in appearance of cellulite, tattoo removal, and fibrotic scars.
Allergan Aesthetics has announced a definitive agreement under which it will acquire Soliton and RESONIC, its Rapid Acoustic Pulse device. The acquisition of Soliton expands and complements Allergan Aesthetics’ body contouring treatment portfolio which includes CoolSculpting Elite.
The novel platform technology uses non-invasive rapid, high-frequency sound waves to disrupt targeted cellular structures and connective tissue, physically impacting the fibrous septae beneath the skin that contribute to the dimpled appearance of cellulite. In clinical trial data submitted to the FDA, after a single treatment session RESONIC demonstrated significant improvement and strong patient satisfaction with 92.9% of subjects agreeing or strongly agreeing their cellulite appeared improved. RESONIC has also received FDA 510(k) clearance for use in conjunction with laser for tattoo removal and has demonstrated clinical results in fibrotic scars.
Under the terms of the transaction, Allergan Aesthetics will pay $22.60 per share in cash for each outstanding share of Soliton. Soliton’s enterprise value for the transaction is approximately $550 million and was approved by the boards of directors of both companies. The transaction is subject to customary closing conditions, including clearance by the U.S. antitrust authorities under the Hart-Scott-Rodino Act and approval of Soliton’s shareholders. Guggenheim Securities served as financial advisor to Soliton and Hogan Lovells served as legal counsel to Soliton.
