ZUG, Switzerland & CARLSBAD, Calif.--(BUSINESS WIRE)--Galderma, the world’s largest independent dermatology company, announced that it has signed a definitive agreement to acquire ALASTIN Skincare®, Inc. (“ALASTIN”), a specialty aesthetics company dedicated to developing innovative and clinically-tested physician-dispensed skincare products. The acquisition is subject to customary closing conditions and necessary regulatory approvals. Financial terms of the transaction have not been disclosed.
ALASTIN’s premium skincare portfolio is fully incremental to and synergistic with Galderma’s integrated dermatology platform. Founded in 2015, ALASTIN provides a comprehensive collection of cutting-edge, scientifically-proven products for daily skincare regimens and peri-procedural use. ALASTIN’s product offerings are backed by its patented TriHex Technology®, a proprietary blend of peptides and active botanicals to support the appearance of rejuvenated skin. Since inception, ALASTIN has delivered rapid and consistent sales growth, achieving a CAGR of 106% between 2016 and 2020, one of the highest of any professional skincare company. ALASTIN Skincare® was ranked the No. 1 preferred skincare brand in a blinded survey of physicians who carry ALASTIN and other skincare brands, conducted by Corsica Life Sciences in December 2020. The company was named as one of Forbes best start-up employers in America in 2020 and 2021 and was named as one of the fastest growing private companies in America on the INC 5000 2020 and 2021 lists.
"Galderma’s business consistently delivers strong results and remains at the forefront of this rapidly expanding market, driven by increasing consumer interest and acceptance of aesthetic procedures. The addition of ALASTIN, with its synergistic portfolio and expertise in science-proven skincare, increases our ability to serve the needs of consumers and underscores our commitment to be the partner of choice for aesthetic professionals.
“This transaction will further enhance our premium product offering and provides a tremendous platform for future growth. We look forward to welcoming the ALASTIN team into Galderma and partnering with them to advance the science of dermatology together."
FLEMMING ØRNSKOV, M.D., MPH
CHIEF EXECUTIVE OFFICER
By leveraging its global reach and integrated dermatology platform, Galderma will unlock ALASTIN’s next growth phase as it reaches more healthcare professionals and consumers more effectively. Galderma will also support further product innovation of ALASTIN’s portfolio, while simultaneously enabling cross-selling opportunities for ALASTIN’s products and technologies in the U.S. Combining Galderma’s world class pipeline and track record of first-to-market innovation with ALASTIN’s proprietary and award-winning skincare technology represents an unparalleled opportunity for Galderma to better meet the needs of aesthetic professionals and patients.
"We are thrilled to become part of Galderma for the next stage of ALASTIN’s growth story. We share the same vision of bringing the highest levels of science and innovation to the professional skincare market, and I look forward to working with the team to leverage Galderma’s expertise in this space to drive the ALASTIN Skincare® brand to new heights.”
DIANE S. GOOSTREE
PRESIDENT AND CEO
Ropes & Gray LLP is acting as legal advisor to Galderma, and Latham & Watkins LLP is acting as legal advisor to ALASTIN. William Blair & Company, LLC is serving as the exclusive financial advisor to ALASTIN.
Galderma is the world’s largest independent dermatology company, present in approximately 100 countries. Since our inception in 1981, we have been driven by a complete dedication to dermatology. We deliver an innovative, science-based portfolio of sophisticated brands and services across Aesthetics, Consumer Care and Prescription Medicine. Focused on the needs of consumers and patients, we work in partnership with healthcare professionals to ensure superior outcomes. Because we understand that the skin we’re in shapes our life stories, we are advancing dermatology for every skin story. For more information: www.galderma.com.
ALASTIN Skincare® is the fastest-growing physician-dispensed skincare brand, with innovative, scientifically-proven and clinically-tested products. Founded in 2015, ALASTIN Skincare, Inc. provides a comprehensive collection of cutting-edge products for daily skincare regimens and peri-procedural use. We strategically focus research and development on innovative products with the greatest potential impact for patients and providers. Our team’s mission is to bring the highest levels of pharmaceutical science and innovation to the physician-dispensed skincare industry while creating a new category of products designed to be synergistic with procedures.
1 Kline Group’s 2020 Professional Skincare: U.S. Market Analysis and Opportunities report