Here’s what you should know.
1. Zeltiq’s CoolSculpting System is its flagship product. The system is the cash pay body contouring segment’s market leader.
2. Allergan agreed to pay Zeltiq shareholders $56.50 per share.
3. Chairman and CEO of Allergan Brent Saunders said, “The acquisition of Zeltiq is highly complementary and strategic to Allergan. By adding the best-in-class body contouring CoolSculpting System to our best-in-class facial aesthetics, plastic surgery and regenerative medicine offerings we are creating a world-class aesthetics business.”
4. The acquisition is subject to shareholder approval. Allegan anticipates closing the transaction in 2017’s second half.
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