Allergan To Acquire LifeCell Corp Of Acelity For $2.9 Bln In Cash

(RTTNews) - Allergan plc (AGN) Tuesday announced a definitive agreement to acquire Acelity L.P. Inc.'s LifeCell Corp for $2.9 billion in cash. LifeCell is a regenerative medicine company.

The acquisition is expected to add a product line of aesthetic and regenerative medicine business providing significant opportunity to enhance the overall product offering for plastic and general surgery customers globally.

Allergan said it expects LifeCell assets to generate approximately $450 million in 2016 revenue, growing at a mid-single digit rate, approximately 75 percent gross margin and approximately 40 percent operating margin in 2016.

In addition to its commercial products, upon close Allergan will also acquire LifeCell's innovative manufacturing capabilities and its R&D operations, based in New Jersey.

Brent Saunders, Chairman and CEO of Allergan said, "The acquisition of LifeCell is both strategically and financially compelling to Allergan and serves as our entry point into regenerative medicine as we create a world-class aesthetic and regenerative medicine business in plastic surgery..

He noted that the acquisition is an immediately accretive investment that enhances near-term and long-term growth profile with products that enjoy strong sales.