By Dave Sebastian
AbbVie Inc.'s Allergan Aesthetics will buy Soliton Inc. for about $550 million including debt, giving Allergan Aesthetics Soliton's Rapid Acoustic Pulse platform for improvement in appearance of cellulite in the buttocks and thighs.
At $22.60 a share in cash, the deal values Soliton at a 26% premium over its closing price Friday. The acquisition supports Allergan Aesthetics' body-contouring treatment portfolio, the companies said Monday.
Resonic, the Rapid Acoustic Pulse device, has received a Food and Drug Administration clearance for use in conjunction with laser for tattoo removal, the companies said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
05-10-21 0907ET