Allergan Gets Regen Med Assets, Acelity Gets Cash Boost Post-IPO Dump
Allergan has agreed to acquire Acelity's LifeCell division for $2.9bn. The deal will give Allergan entry to the regenerative medicine sector and expand its aesthetics portfolio, while the substantial cash consideration should console Acelity after ditching plans for an IPO.
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Medtech companies raised $2.4 billion in the fourth quarter, the second-strongest of the year; Q4 device M&A deals totaled $9 billion in value, led by Allergan's $2.9 billion buy of Acelity's LifeCell division. Diagnostics financings finished out the year at $721 million, an increase over the previous quarter and 2016's second-highest quarter, but diagnostics M&A activity was the lowest of the year at $87 million, with only two completed acquisitions.
In a bid to counter increasing pressure on its core negative pressure wound care business, Kinetic Concepts is expanding its portfolio by agreeing to buy UK firm Systagenix for $485m. The deal, which is expected to close in the fourth quarter, is a “major step…towards increased revenue diversification and geographic expansion,” Kinetic said.
Advanced wound care company Kinetic Concepts is to buy tissue repair product manufacturer LifeCell in a cash transaction worth $1.7bn, a move that will enable Kinetic to consolidate its presence in the fast-growing biosurgery market.