Washington DC, May 13, 2021 – Global law firm Hogan Lovells has advised medical device company Soliton in its definitive agreement under which Allergan Aesthetics, an AbbVie company, will acquire Soliton and RESONIC, its Rapid Acoustic Pulse device, for approximately US $ 550 million.
RESONIC, which recently received 510 (k) clearance from the U.S. Food and Drug Administration, is a non-invasive treatment for short-term improvement in the appearance of cellulite and to be used in conjunction with the laser for tattoo removal.
Pursuant to the transaction, Allergan Aesthetics will pay $ 22.60 per share in cash for each outstanding share of Soliton. The transaction is subject to customary closing conditions, including authorization from the US antitrust authorities under the Hart-Scott-Rodino Act and approval by Soliton shareholders.
The Hogan Lovells team was led by partners Joseph Gilligan and Les Reese and included partners Brian O’Fahey, Carin Carithers, Jasper Howard, Joseph Krauss (all in Washington DC), and Steve Abrams and Janice Hogan (Philadelphia), the attorneys Robert Hayes and Robert Baldwin, senior partners David Steenburg, Brendan Oldham and Natalie Kone, and partners Curtis Victor and Bothwell Graham (all in Washington DC).