Sientra Completes Acquisition of Miramar Labs

Sientra (NASDAQ:SIEN) completed a $20 million in cash for the acquisition of Miramar Labs.
As quoted in the press release:

Plus contractual rights for potential contingent payments of up to $14 million in cash upon the achievement of certain milestones.

The acquisition of Miramar significantly broadens Sientra’s aesthetics portfolio, adding the miraDry system, the only FDA cleared device to reduce underarm sweat, odor and permanently reduce hair of all colors. The miraDry non-invasive procedure is safe and highly efficacious with a proven commercial and clinical track record.

Jeffrey M. Nugent, Chairman and Chief Executive Officer of Sientra, said, “We are extremely excited to complete the acquisition of Miramar Labs, which is a significant milestone for Sientra and continues our progress building a diversified global aesthetic company. The miraDry procedure addresses a very large and underpenetrated market in the minimally invasive, lifestyle aesthetics category and we are confident that we can work with the Miramar team to accelerate their already growing business.

Click here to read the full press release.

Source: globenewswire.com