ALMIRALL SIGNS AGREEMENT TO DIVEST THERMIGEN.

 
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Almirall S.A. (ALM) has entered into a definitive agreement with Celling Biosciences, based in Austin (Texas), to divest ThermiGen for an undisclosed amount. The transaction is expected to close before or on March 29th, 2019.

In 2018, Thermi generated $18 MM of net sales and had 94 employees, based in Dallas (Texas). Thermi has an installed base of more than 2,000 users with a strong presence across the U.S.

Peter Guenter, Chief Executive Officer of Almirall S.A., said: Almirall continues to refocus its business towards medical dermatology. With this divestment, Almirall completes its strategic realignment and puts Thermi business in very good hands to capture the potential of the new Arvati innovative platform.

Kevin Dunworth, Celling Biosciences CEO, explained: We are excited about the acquisition announced today and the expansion of our portfolio with ThermiGen's leading energy-based technology. Acquiring this technology will allow Celling to combine their unique cellular therapy devices with the existing ThermiGen technology to offer physicians a unique scientific approach to treat their patience.

About Thermi

Thermi, an Almirall Company, is a global manufacturer of temperature controlled radiofrequency technology. The company's flagship product is ThermiRF, a platform technology that uses temperature as an endpoint for various minimally and non-invasive applications (ThermiTight, ThermiRase, ThermiSmooth Face, ThermiVa, etc.). Thermi also offers the Thermi250 device as the newest innovative RF for body. Founded in 2012, Thermi is a US based company with its headquarters in Irving, Texas and R&D in Boston, MA. For more information, visit www.thermi.com.

About Celling Biosciences

Celling Biosciences is a biotech company focused on the science, research and...

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