Tuesday, June 17, 2008

LipoSonix Acquired By Medicis

Seattle-based LipoSonix, a developer of medical device technology using ultrasound to remove fat, and Arizona-based Medicis, said yesterday that the two are in a definitive merger agreement. According to the two, Medicis will acquire LipoSonix in a deal worth $150M in cash. According to Medicis, LipoSonix has approximately 40 scientists, engineers, and clinicians in Seattle. The LipoSOnix technology uses ultrasound to treat areas of fat which do not respond to diet or exercise; the firm has launched its first product in Europe, and is currently undergoing approval from the U.S. Food and Drug Administration. According to Medicis, it expects the technology to enter the U.S. marketplace in the 2011 time frame.