Almirall closes the acquisition of ThermiGen LLC entering the aesthetics market

Barcelona, (PresseBox) - - The transaction implies a cash acquisition of 100% of ThermiGen for an Enterprise Value of $82 million.

- Provides Almirall with a commercial platform in the energy-based medical device segment with significant growth potential in multiple indications.

- ThermiGen is a leading developer of unique radio frequency technology solutions for Aesthetics Dermatology and Plastic Surgery.

 

Almirall, S.A., the global pharmaceutical company based in Barcelona, today announced the completion of the acquisition of 100% of the share capital of ThermiGen LLC, after all closing conditions have been satisfied. In accordance with the terms of the agreement signed in September 2015, the transaction has been fulfilled and Almirall now owns this medical aesthetics company, which is a leading developer of thermistor-regulated energy systems for Aesthetics Dermatology and Plastic Surgery applications.

Under the terms of the agreement, Almirall has acquired ThermiGen for an Enterprise Value of $82 million This acquisition represents the definitive entry of Almirall into the aesthetics market, an industry with potential global sales in high growth dermatological indications. The addition of ThermiGen’s portfolio provides Almirall with a solid technology and commercial platform in the energy-based devices segment; a recurrent business model and an experienced management team with a proven track record. In 2014, ThermiGen had $11.4 million of revenue and has already closed 2015 with nearly $30 million in sales and positive operating results.

Almirall announced the exercise of a call option on January 4th 2016. Previously, in September 2015, Almirall acquired a minority stake in ThermiGen for $5 million representing 7.7% of the share capital of the company and paid $2.5 million in exchange of a call option right to acquire up to 100% of the company, now completed.

Disclaimer

This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements". These statements are based on currently available information and on best estimates and assumptions believed to be reasonable by the Company. These statements involve risks and uncertainties beyond the Company's control. Therefore, actual results may differ materially from those stated by such forward-looking statements. The Company expressly disclaims any obligation to review or update any forward-looking statements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumstances on which such forward-looking statements are based unless so required by applicable law.

About Thermi

The Thermi flagship product is the ThermiRF®, Temperature Controlled Radio Frequency Generator System, which is FDA cleared for dermatological and general surgical procedures for electrocoagulation and hemostasis, and to create lesions in nervous tissue. ThermiRF®, is an advanced technology using finely controlled thermal energy. It is a multi-use platform which uses proprietary hand pieces designed for specific medical applications and promotes increased patient safety and clinical effectiveness, while providing versatile solutions for physicians serving the aesthetic market.

The Thermi250® also employs temperature-controlled radio frequency using a specially designed thermistor’s regulated hand piece, which delivers precise heating to the skin’s surface.

For more information, please visit www.thermi.com

 

Almirall Hermal GmbH

Almirall is a global company based in Barcelona dedicated to providing valuable medicines and medical devices through its R&D, agreements and alliances. Our work covers the whole of the drug value chain. A consolidated growth allows us to devote our talent and efforts towards specialty areas and particularly to further grow as a leading dermatology player. Our size enables us to be agile and flexible so that we can accomplish the purpose of taking our innovative products wherever they are needed.

Founded in 1943, Almirall is listed on the Spanish Stock Exchange (ticker: ALM) and it has become a source of value creation for society due to its vision and the commitment of its long-standing major shareholders. In 2014, its revenues totaled 1,407 million euros and, with more than 2,100 employees, it has gradually built up a trusted presence across Europe, as well as in the US and Mexico.

For more information, please visit www.almirall.com

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