Almirall acquires ThermiGen and with it ThermiRF and Thermi 250 aesthetic devices

Almirall, S.A., has announced the exercise of a call option to acquire 100% of the share capital of ThermiGen LLC, a privately held medical aesthetics technology company and a leading developer and manufacturer of thermistor-regulated energy systems for plastic surgery and aesthetics dermatology applications. In September 2015, Almirall acquired a minority stake in ThermiGen for USD $5 million representing 7.7% of the share capital of the company and paid $2.5 million in exchange of a call option right to acquire up to 100% of the company for an Enterprise Value of C. $80m. In accordance with the terms of the agreement, the transaction will be fulfilled during the month of January 2016. The closing is conditional, subject to the fulfillment of certain closing conditions. ThermiGen's product portfolio is based on thermistor-regulated energy systems applying what is becoming known as the �Science of Heat', enabling physicians to use temperature as an endpoint to treat a variety of aesthetic soft tissue and nerve conditions. This technology is used for multiple non-invasive and minimally-invasive procedures, and it offers significant potential for multiple indications. ThermiRF, the company's flagship product, is the first FDA's cleared aesthetic device that employs temperature-controlled radio frequency to be used in dermatological and general surgical procedures for electrocoagulation and hemostasis and to create lesions in nervous tissue. ThermiGen also has the worldwide rights to commercialize the Thermi250 which also employs temperature-controlled radio frequency using a specially designed thermistor regulated hand piece, which delivers precise heating to the skin's surface.