Valeant Pharmaceuticals inks $250 mln deal to acquire PE-backed Solta Medical

Montréal-based specialty pharmaceutical company Valeant Pharmaceuticals International Inc (NYSE: VRX and TSX: VRX) has agreed to acquire Solta Medical Inc (NASDAQ: SLTM) for $2.92 per share in cash, which represents a 40% premium to Solta's closing share price on December 13, 2013, or about US$250 million. The Hayward, Calif.-based Solta Medical, a designer, developer and manufacturer of energy-based medical device systems for aesthetic applications, is a portfolio company of U.S. private equity firms Longitude Capital and Great Point Partners. The transaction is expected to close in the first quarter of 2014 . Earlier this year, Valeant bought eye care specialist Bausch + Lomb Holdings Inc. from Warburg Pincus for US$8.7 billion.

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