Solta, Valeant Pharmaceuticals deal

Valeant will acquire aesthetic device company Solta for $2.92 per share in cash, or about $250 million. The price is a 40% premium to Solta's close of $2.09 on Dec. 13, 2013, before the deal was disclosed. The deal has been approved by Solta's board and is slated to close this quarter.

Valeant said the acquisition will bring value to the company's aesthetic portfolio. Solta markets energy-based medical device systems for aesthetic applications, such as the Thermage CPT system that uses radiofrequency energy for skin tightening and the Fraxel repair system for ablation, coagulation and resurfacing of soft tissue. Solta reported $145 million in revenues for 2012. Valeant reported $3.6 billion in 2012 revenues. ...