Hogan Lovells advises Soliton in US$550 million acquisition by AbbVie's Allergan Aesthetics
Washington D.C., 13 May 2021 – Global law firm Hogan Lovells advised medical device company Soliton in its definitive agreement under which Allergan Aesthetics, an AbbVie company, will acquire Soliton and RESONIC, its Rapid Acoustic Pulse device, for approximately US$550 million.
RESONIC, which recently received U.S. Food and Drug Administration 510(k) clearance, is a non-invasive treatment for the short-term improvement in the appearance of cellulite and for use in conjunction with laser for tattoo removal.
Under the terms of the transaction, Allergan Aesthetics will pay $22.60 per share in cash for each outstanding share of Soliton. The transaction is subject to customary closing conditions, including clearance by the U.S. antitrust authorities under the Hart-Scott-Rodino Act and approval of Soliton's shareholders.
The Hogan Lovells team was led by partners Joseph Gilligan and Les Reese and included partners Brian O’Fahey, Carin Carithers, Jasper Howard, Joseph Krauss (all Washington D.C.), and Steve Abrams and Janice Hogan (Philadelphia), counsel Robert Hayes and Robert Baldwin, senior associates David Steenburg, Brendan Oldham, and Natalie Kone, and associates Curtis Victor and Bothwell Graham (all Washington D.C.).
More information can be found in Soliton's press release.