Allergan to acquire body-contouring group Zeltiq for $2.47 billion

February 14, 2017 | Natasha Alperowicz

Allergan (Dublin, Ireland), a leading biopharmaceutical company; and Zeltiq Aesthetics (Pleasanton, California), a medical technology company focused on developing and commercializing products utilizing the company’s proprietary controlled-cooling technology platform, have announced that they have entered into a definitive agreement under which Allergan will acquire Zetiq for $2.475 billion, subject to customary adjustments. Allergan anticipates closing the transaction in the second half of 2017.

The acquisition is immediately accretive and enhances Allergan's medical aesthetics portfolio with the addition of Zeltiq’s flagship CoolSculpting system, the sales leader in the fast-growing cash pay body-contouring segment of medical aesthetics. The CoolSculpting system is US FDA-cleared to affect appearance through lipolysis or reduction of unwanted fat using a patented cooling technology. It works by cooling targeted fat cells in the body to induce a natural controlled elimination of fat cells without affecting surrounding tissue. Body contouring is a $4-billion market opportunity worldwide and growing, Allergan says.