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Almirall, a pharmaceutical company based in Barcelona, has completed acquisition of 100% of the share capital of medical aesthetics company ThermiGen LLC for an enterprise value of €73 millions. This operation is the Catalan firm’s springboard into the aesthetics market.

Almirall closed the deal that began in September 2015, when it acquired 7.7% of the ThermiGen share capital for €4.5 millions with the aim of moving into an industry with a high rate of growth in global sales, as the company noted in a press release. Along with this first minority share, Almirall also paid €2.2 millions in exchange for a call option to acquire up to 100% of the company, which is the agreement that was reached in late January.

US firm ThermiGen specializes in developing energy systems for use in aesthetics, dermatology and plastic surgery, a specialty that is beginning to be known as the “science of heat”. These techniques allow doctors to use temperature as a parameter to treat a wide variety of aesthetic conditions in soft and nervous tissue. It can be applied, for example, in dermatology and general surgical procedures for electrocoagulation and hemostasis or to create lesions in nervous tissue.

ThermiGen closed 2014 with revenue of $11.4 million and expects to see roughly $30 millions in sales and positive operational results for 2015.

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