Tuesday, June 17, 2008

Medicis Acquires Medical Device Firm

Scottsdale, Arizona-based Medicis said Monday that it has entered into a definitive merger agreement with Seattle-based LipoSonix, in a deal worth $150M in cash. Medicis and LipoSonix said that Medicis will acquire LipoSonix, a developer of technology used to reduce fat using ultrasound. The firm's technology is targeted at treating areas of fat that do not respond to changes in diet or exercise. LipoSonix employs approximately 40 near the Seattle area. The firms said the LipoSonix recently launched its product in Europe, and is looking to get FDA approval to enter the U.S. marketplace in the 2011 time frame.