Allergan successfully completes LifeCell acquisition

Acquisition creates world-class aesthetic and regenerative medicine business in plastic surgery.

Allergan has successfully completed the acquisition of LifeCell Corporation, a leading regenerative medicine company. Allergan acquired LifeCell for approximately $2.9 billion in cash.

The company plans to provide its 2017 guidance, including LifeCell, as part of its fourth quarter and full year 2016 earnings results on 8 February 2017.

"The completion of the LifeCell acquisition is an important milestone for Allergan, serving as our entry point into regenerative medicine as we continue to add to our world-class aesthetic and plastic surgery business," said Brent Saunders, Chairman and CEO of Allergan. "The combination of LifeCell's novel regenerative medicine products coupled with Allergan's innovative medical aesthetics and plastic surgery portfolio creates a more complete product offering for plastic surgeons globally."

The acquisition adds LifeCell's novel, regenerative medicines business, including its high-quality and durable portfolio of dermal matrix products to Allergan's leading portfolio of medical aesthetic products, breast implants and tissue expanders. Together, these product lines create a world-class aesthetic and regenerative medicine business providing significant opportunity to enhance the overall product offering for plastic and general surgery customers.

The LifeCell commercial portfolio features Acellular Dermal Matrices, commonly used in breast reconstruction procedures and complex hernia surgeries. Key products include Alloderm, a human allograft tissue matrix used in breast reconstruction post-masectomy; and Revolve, a single use high-volume fat grafting device used in plastic and reconstructive procedures. Additionally, LifeCell markets Strattice, a porcine-based tissue matrix used in complex abdominal wall repair and for the surgical repair of damaged or ruptured soft tissue. In addition to commercial products, Allergan has also acquired LifeCell's innovative manufacturing capabilities and its R&D operations, based in New Jersey.