Allergan agrees $2.9bn deal to purchase LifeCell

Allergan has agreed a deal to purchase the regenerative medicine company LifeCell from its current owner Acelity.

The $2.9 billion (2.35 billion pounds) agreement will give Allergan a platform in the field of regenerative medicine, creating a world-class aesthetic and regenerative medicine offering for the plastic surgery market.

LifeCell's business, including its high-quality and durable portfolio of dermal matrix products, will be combined with Allergan's portfolio of medical aesthetics, breast implants and tissue expanders, with the new assets to generate approximately $450 million in 2016 revenue.

Allergan will also acquire LifeCell's manufacturing capabilities and research and development operations in New Jersey as part of the deal.

Brent Saunders, chairman and chief executive officer 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."

LifeCell's portfolio includes Acellular Dermal Matrices, which are used in breast reconstruction procedures and complex hernia surgeries, as well as brands such as Alloderm, Revolve, Strattice and Artia.

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