Add-on Acquisition • Medical Products

Alliqua Acquires Soluble Systems

On October 5, 2016, Alliqua acquired medical products company Soluble Systems for 35M USD

Acquisition Context
  • This is Alliqua’s 3rd transaction in the Medical Products sector.
  • This is Alliqua’s largest (disclosed) transaction.
  • This is Alliqua’s 3rd transaction in the United States.
  • This is Alliqua’s 1st transaction in Virginia.

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M&A Deal Summary

Date October 5, 2016
Target Soluble Systems
Sector Medical Products
Buyer(s) Alliqua
Deal Type Add-on Acquisition
Deal Value 35M USD
Advisor(s) Canaccord Genuity (Financial)

Target Company

Soluble Systems

Newport News, Virginia, United States
Soluble Systems LLC is a manufacturer and/or distributor of a line of advanced wound care products under the brand names TheraSkin and TheraGauze. Soluble’s lead product, TheraSkin®, is a cryopreserved human skin allograft for non-responsive chronic wounds which competes in the fast growing biologic market of advanced wound care.
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Buyer Overview 1

Buyer

Alliqua

Langhorne, Pennsylvania, United States

Category Company
Sector Medical Products
Revenue 2M USD (2018)
DESCRIPTION

Alliqua provides a custom manufacturing solution to partners in the medical device; cosmetics; and OTC industry, utilizing its proprietary hydrogel technology. Alliqua's electron beam production process, located at its 16,500 square foot GMP manufacturing facility in Langhorne, Pa., allows Alliqua to custom manufacture a wide variety of hydrogels. Alliqua's hydrogels can be customized for various transdermal applications to address market opportunities in the treatment of wounds as well as the delivery of numerous drugs or other agents for the pharmaceutical and cosmetic industries.


Deal Context for Buyer #
Overall 3 of 3
Sector: Medical Products 3 of 3
Type: Add-on Acquisition 3 of 3
State: Virginia 1 of 1
Country: United States 3 of 3
Year: 2016 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Celleration

Eden Prairie, Minnesota, United States

Celleration, Inc. is a privately held medical device company. Celleration develops and markets a proprietary technology that has been proven to accelerate healing in wounds by delivering therapeutic, low frequency ultrasound without direct contact of the delivery device to the wound surface. Celleration's core product, the MIST Therapy System, has been clinically shown to positively impact all critical aspects of the wound healing process providing clinical and economic benefits to institutions treating nonresponding wounds.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 TheraBond

Yardley, Pennsylvania, United States

The TheraBond® product line is based on a proprietary and patented manufacturing process where silver is bonded to the entire surface of all fibers of the TheraBond® dressing. When TheraBond® products are placed on the wound, bioactive ionic silver is released in the dressing at a controlled rate, promoting an optimal wound healing environment by creating an antimicrobial barrier to more effectively protect the wound.

Sell $4M