The deal values the company based in Dallas in about 80 million dollars
Almirall has executed its purchase option to acquire 100% of the share capital of ThermiGen, private aesthetic medical technology company based in Dallas, specializes in the development and production of energy systems regulated by thermistors for plastic surgery and aesthetic dermatological applications.
Last September Almirall acquired a 7.7% ThermiGen 5 million dollars (4.6 million euros) and paid 2.5 million dollars (2.3 million euros) for the right of option to acquire up to 100% of the company business worth close to 80 million dollars (73.5 million euros).
The Spanish company has stressed that, following the acquisition, the sum of ThermiGen portfolio of technology and will provide a commercial platform in the segment of energy-based devices; a model of “constant” business and management “experience and a strong track record” team.
Under the agreement, the transaction will be completed during the month, conditional and subject to compliance with certain conditions being operation; specifically, Almirall expects to close this transaction on 31 January.
The Spanish pharmaceutical, through its president, Jorge Gallardo, stressed that this operation is a first step to establish itself in the market of aesthetic and continue consolidating its strategy in the area of dermatology.
The ThermiGen product portfolio is based on the ‘hot science’: through technology ‘SmartTip’ doctors are allowed to use temperature as a parameter to treat a variety of aesthetic conditions of soft tissues and nervous.
This technology is used for various non-invasive and minimally invasive procedures and offers significant potential for use in multiple indications, as highlighted Almirall in a communication sent Monday to the National Securities Market Commission (CNMV).
The product of the American company ThermiRF first aesthetic medical device by the FDA (Food and Drug Administration USA) approved uses controlled radiofrequency for use in dermatological procedures and general surgery for temperature and electrocoagulation hemostasis, and to create lesions in the nervous tissue.
ThermiGen, founded in June 2012, also has the worldwide rights to market ThermiSmooth 250, which works using a specially designed handpiece, controlled by a thermistor which provides the necessary heat to the surface of the skin.
Last year, the company posted 11.4 million dollars (10.4 million euros) in revenues and expects to close 2015 with around 30 million dollars (27.5 million euros) in sales and positive operating results.