Acelity Sells LifeCell Tissue Repair Unit to Allergan for $2.9B
Summary
Acelity Sells LifeCell Tissue Repair Unit to Allergan for $2.9B Xconomy Texas — San Antonio — Acelity, the San Antonio maker of wound healing technologies and tissue repair products, has sold one of its business units called LifeCell to Dublin-based biopharmaceutical company Allergan for $2.9 billion.The sale of Acelity’s so-called regenerative medicine division, LifeCell, is an attempt by the company to focus its business on its core wound healing devices, such as pumps that use vacuum pressure to help heal hard-to-treat wounds like ulcers and traumatic injuries, president and CEO Joe Woody said in a news release.Allergan (NYSE: AGN) wanted to buy LifeCell to add to its portfolio of medical devices and products that are also focused on helping wounded tissue regrow, particularly after plastic or reconstructive surgery, the company said in a news release.Allergan has a wide swath of pharmaceutical and aesthetic products, such as breast implants, tissue expanders, and Botox.Allergan has made a few other acquisitions this year, which are particularly notable because they came after its attempt to merge with Pfizer (NYSE: PFE) for some $160 billion failed.