Aesthetic medical device maker Ulthera formally withdraws IPO; acquired by Merz for $600 million

By Renaissance Capital,

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Ulthera, which sells ultrasound energy systems for non-invasive aesthetic procedures, formally withdrew its plans for an initial public offering on Tuesday. In late June, the company announced it would be acquired by Merz, a privately held pharmaceutical company specializing in medical and aesthetic dermatology and neurological movement disorders, for $600 million in upfront cash and milestone payments. 

The Mesa, AZ-based company was founded in 2004 and booked $91 million in sales for the 12 months ended March 31, 2014. It had originally filed in mid-April for an $86 million IPO that would list on the NASDAQ under the symbol ULTH. J.P. Morgan and Citi were set to be the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: ULTH

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