Allergan plc paid $2.9 billion to buy New Jersey-based LifeCell Corp., which develops aesthetic and regenerative medicine used in plastic surgery, in a deal expected to close in the first quarter.
LifeCell makes acellular dermal matrices—soft tissue substitutes made from the collagen layer of donated human skin—used in aesthetic and reconstructive breast surgery. The matrices work as a scaffold for cells to absorb and build on.
The work relates to Allergan’s aesthetic medicine business, which includes medical aesthetics, breast implants and dermal fillers. It reported the segment had $1.45 billion in revenue in its most recent earnings report and that the company should generate $450 million in additional annual revenue from the new acquisition.
The purchase “serves as our entry point into regenerative medicine,” said Chairman and Chief Executive Brent Saunders.
Dublin-based Allergan maintains administrative offices in New Jersey and an eye care and aesthetics campus in Irvine. LifeCell makes acellular dermal matrices used in aesthetic and reconstructive breast surgery.
LifeCell was owned by privately held Acelity L.P. in San Antonio.
– Sherry Hsieh
