BioForm, Merz deal
Merz will acquire dermatology company BioForm Medical for $5.45 per share, or about $253 million. The price is a 60% premium to BioForm's close of $3.40 on Dec. 31, 2009, the last trading day before the deal was announced. BioForm will be renamed Merz Aesthetics U.S. and will maintain its San Mateo, Calif. headquarters. BioForm CEO Steve Basta will become CEO of the subsidiary.
BioForm markets aesthetic products, including Radiesse dermal filler; Radiesse Voice and Radiesse Voice Gel for vocal fold insufficiency; and Coaptite Injectable Implant for soft tissue augmentation in the treatment of stress urinary incontinence in females due to intrinsic sphincter deficiency. Merz said the deal will expand its portfolio in aesthetic medicine, which includes dermal fillers Belotero and Novabel. ...