Almirall enters into a definitive agreement to divest ThermiGen, its medical device aesthetics business

EXTON, Pa., March 4, 2019 /PRNewswire/ -- Almirall S.A. (ALM) announced that it has entered into a definitive agreement with Celling Biosciences, based in Austin (Texas), to divest ThermiGen for an undisclosed amount. The transaction is expected to close before or on March 29th, 2019.

In 2018, Thermi generated $18 MM of net sales and had 94 employees, based in Dallas (Texas). Thermi has an installed base of more than 2,000 users with a strong presence across the U.S.

Peter Guenter, Chief Executive Officer of Almirall S.A., said: "Almirall continues to refocus its business towards medical dermatology. With this divestment, Almirall completes its strategic realignment and puts Thermi business in very good hands to capture the potential of the new Arvati innovative platform".

Kevin Dunworth, Celling Biosciences CEO, explained: "We are excited about the acquisition announced today and the expansion of our portfolio with ThermiGen's leading energy-based technology. Acquiring this technology will allow Celling to combine their unique cellular therapy devices with the existing ThermiGen technology to offer physicians a unique scientific approach to treat their patience".

About Thermi

Thermi, an Almirall Company, is a leading global manufacturer of temperature controlled radiofrequency technology. The company's flagship product is ThermiRF^®, a platform technology that uses temperature as an endpoint for various minimally and non-invasive applications (ThermiTight^®, ThermiRase^®, ThermiSmooth^® Face, ThermiVa^®, etc.). Thermi also offers the Thermi250™ device as the newest innovative RF for body. Founded in 2012, Thermi is a US based company with its headquarters in Irving, Texas and R&D in Boston, MA. 

For more information, please visit  www.thermi.com

About Celling Biosciences

Celling Biosciences is a biotech company focused on the science, research and development of autologous cellular therapy. Celling developed the first system on the market that allows users to regulate and select a desired cell type through a patented collection window and integrated ultra-filtration system. Celling is a transformative leader innovating cellular therapy by integrating excellence in research, medical education, advocacy, and product development.

For more information, please visit  www.cellingbiosciences.com/

About Almirall

Almirall is a leading skin-health focused global pharmaceutical company that partners with healthcare professionals, applying Science to provide medical solutions to patients and future generations. Our efforts are focused on fighting against skin health diseases and helping people feel and look their best. We support healthcare professionals by continuous improvement, bringing our innovative solutions where they are needed.

The company, founded almost 75 years ago with headquarters in Barcelona, is listed on the Spanish Stock Exchange ALM. Almirall has been key in value creation to society according to its commitment with to major shareholders and through its decision to help others, to understand their challenges and to use Science to provide solutions for real life. Total revenues in 2017 were 755.8 million euros. More than 1,800 employees are devoted to Science.

For more information, please visit almirall.us.

Corporate Communications Contact:

Almirall U.S.                                                                                    

Sam Widdecombe                                                                        

samantha.widdecombe@almirall.com                                    

Tel.: 949-331-0269                                                                        

Disclaimer

This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements". These statements are based on currently available information and on best estimates and assumptions believed to be reasonable by the Company. These statements involve risks and uncertainties beyond the Company's control. Therefore, actual results may differ materially from those stated by such forward-looking statements. The Company expressly disclaims any obligation to review or update any forward-looking statements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumstances on which such forward-looking statements are based unless so required by applicable law.

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SOURCE Almirall