Sector News

Allergan to buy medical device company Keller Medical Inc.

June 8, 2017
Life sciences

Allergan PLC said early Wednesday that it plans to buy privately-held medical device company Keller Medical Inc., which developed a funnel used during breast surgery procedures.

The Keller Funnel, which helps plastic surgeons guide implants into the surgical pocket and reduces the risk of implant contamination, is “a natural complement to our world-class plastic surgery and regenerative medicine business,” said Senior Vice President of Medical Aesthetics David Moatazedi.

Plastic surgery and cosmetics has become a key business area for Allergan, with its aesthetics business — which includes Botox among other products — seen as one of its key assets. Allergan spent nearly $2.5 billion earlier this year to buy body-contouring company Zeltiq Aesthetics. Allergan shares were not active in premarket trade. Shares have dropped 4.7% over the last three months, compared with a 2.6% rise in the S&P 500.

By Emma Court

Source: Market Watch

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