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Valeant Pharmaceuticals Agrees to Acquire Solta Medical for $2.92 Per Share in Cash
Date:12/16/2013

LAVAL, Quebec and HAYWARD, Calif., Dec. 16, 2013 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that it has entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Solta Medical, Inc. (NASDAQ: SLTM) for $2.92 per share in cash, which represents a 40% premium to Solta's closing share price on December 13, 2013, the last trading day prior to announcement, or a transaction value of approximately $250 million.  The transaction is expected to close in the first quarter of 2014 and Valeant expects the transaction, once completed, to be immediately accretive to Valeant's cash earnings per share. 

Solta designs, develops, manufactures, and markets energy-based medical device systems for aesthetic applications.  Solta's products include the Thermage CPT system that provides non-invasive treatment options using radiofrequency energy for skin tightening, the Fraxel repair system for use in dermatological procedures requiring ablation, coagulation, and resurfacing of soft tissue, the Clear + Brilliant system to improve skin texture and help prevent the signs of aging skin, and the Liposonix system that destroys unwanted fat cells resulting in waist circumference reduction.  Solta had total revenue of approximately $145 million in 2012. 

"The acquisition of Solta will bring tremendous value to Valeant's current aesthetic portfolio and together with our previous acquisitions, will create the broadest aesthetic portfolio in the industry," stated J. Michael Pearson, Chairman and Chief Executive Officer of Valeant.  "Solta's leading aesthetic devices are a natural fit with Valeant's facial i
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SOURCE Valeant Pharmaceuticals International, Inc.
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