Allergan plc (NYSE: AGN) acquired Envy Medical, Inc. this week in an effort to bolster its medical aesthetics portfolio. Envy Medical develops, markets, and sells non-invasive skin rejuvenation therapies for patients suffering from dermatologic or aesthetic conditions. Terms of the deal were not disclosed.
The deal will also give Allergan a key product out of Envy Medical’s portfolio, Dermalinfusion. The item is a non-surgical, non-invasive skin resurfacing system. It is sold in more than 30 countries and has a global install base of over 3,800 units in physician offices and medical spas.
This is not the first deal Allergan has made to build up its aesthetics portfolio. In September 2018, the company bought Bonti, Inc. for $195 million. Bonti is a clinical-stage biotechnology company that develops and commercializes novel, fast-acting neurotoxin programs for aesthetic and therapeutic applications.
On a trailing 12-month basis, Allergan generated revenue of $15.89 billion, EBITDA of $7.1 billion and a net loss of $5.1 billion.
