Allergan Buys Massachusetts Cosmetic Surgery Product Company
Posted by Cosmetic Surgery Review on February 17, 2010
Allergan, Incorporated, the makers of BOTOX Cosmetic and several other anti-aging products, has purchased a cosmetic surgery company from Medford, Massachusetts. Allergan, Incorporated now owns Serica Technologies, Incorporated for an undisclosed price.
Serica Technologies specializes in making biodegradable, silk mesh scaffolds that can be used as part of skin grafting procedures and in reconstructive surgery. These scaffolds help with the tissue regeneration process, and have helped thousands of patients recover from surgery and achieve the best results with their cosmetic or reconstructive procedure. Many procedures such as facelift surgery, breast implants, body contouring procedures and other complicated types of plastic and cosmetic procedures require the patient to undergo weeks and months of recovery so that the skin tissues can heal properly. Products and materials that can speed up the tissue and cell repair process can help the surgeon achieve better results and improve recovery outcomes.
Allergan, Incorporated plans to operate Serica out of the company’s state-of-the-art office in Medford. Serica has been in business since 1998 and raised nearly $24 million in financing from Hong Kong-based investment company Morningside Technology Ventures, Massachusetts-based Prism VentureWorks, and New Jersey-based Ivy Capital Partners.
Allergan currently has quarterly sales of approximately $1 billion, and plans to integrate Serica into its breast implant unit.
In addition to making and distributing the ever-popular BOTOX Cosmetic product, Allergan makes a variety of skin fillers and the LAP-BAND gastric banding system for weight loss patients. Allergan also makes Natrelle breast implants, an innovative implant that promises natural looking results and fewer risks and complications than traditional breast implants.
Chief Executive David Payott reported that Allergan is “pleased that we further strengthened our pipeline” buy purchasing Serica this past year. Allergan will continue developing pharmaceuticals, biologics and medical devices as it continues to grow and diversify its product line.
(Source: Orange County Business Journal)