Medicis and Inamed to Merge

(Santa Barbara, CA, USA) have agreed to merge.

The combined company will have annual revenue in excess of U.S.$700 million, operations in more than 12 countries, businesses in more than 60 countries, and around 1,500 employees. This new entity will have a broad portfolio of complementary products in facial aesthetics, breast aesthetics, and therapeutic dermatology markets; and will also have innovative surgical devices for treating morbid obesity.

Under the terms of the transaction, Inamed stockholders will receive shares of Medicis common stock and cash for each share of Inamed common stock. The merger consideration represents a total equity value of about $2.8 billion. Jack Shacknai will be chairman and CEO of the combined company, the same role he played at Medicis. The company headquarters will be in Scottsdale (www.medicisinamed.com).

"Joining forces with Inamed gives us the ability to offer our primary customers--plastic surgeons, cosmetic surgeons, and dermatologists--a broader array of complementary, highly effective products to meet the needs of their patients,” observed Mr. Shacknai. "The transaction will create a company with a strong financial position and greater resources to enhance our strong research and development pipeline.”





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