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Shares of Zeltiq Aesthetics (ZLTQ) got off to a hot start this week, rallying about 13% Monday after it was announced Allergan (AGN) - Get Allergan plc Report would acquire the company for $2.47 billion, or about $56.50 per share. Allergan shares added about 1%, to $248.86.

Zeltiq is another company aimed at keeping people looking younger, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.

Allergan is a holding in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AGN? Learn more now.

The deal gives the drugmaker a foothold in what CEO Brent Saunders told investors Monday in a conference call is the fastest-growing area of the medical aesthetics market. The Dublin-headquartered drugmaker announced Monday morning it has agreed to acquire body-contouring company at a price tag that represents an approximate 14.4% premium over the $49.40 per share the Pleasanton, Calif.-based target company finished Friday. 

Saunders on the conference call with investors described the deal as one of the most exciting acquisitions he's been involved in to date at Allergan: "You can't ignore that the hottest trend in the aesthetics profession is the rest of the body ... this allows us to move into the hottest area," Saunders said, referring to body contouring.

This is exactly what Allergan wants, adding to its lineup of face and body procedures, the largest of which is Botox.

And the deal works out well for Allergan too, Cramer added,  as management expects the deal to be immediately accretive. Allergan is one of the cheapest, high-growth stocks in the industry and its continual deals makes it so that more drugs and treatments are constantly in the pipeline.

In contrast, look at Gilead Sciences (GILD) - Get Gilead Sciences, Inc. Report , which has a ridiculously low valuation, but very little in terms of pipeline growth. The lack of M&A has turned this company into a value trap, he reasoned.

Founded in 2005, Zeltiq encompasses a technology used in contouring procedures known as "CoolSculpting," which refers to controlled-cooling to remove fat cells. Its CoolSculpting systems, applicators and consumables accounted for about 37% of the company's 2016 revenue, holding the leading market share in this segment of the market.

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In what ought to be to the liking of Allergan investors, some of which criticized the company's focus on R&D-stage add-on deals in 2016, Zeltiq is both revenue- and profit-generating. The company posted net revenue of about $374 million in 2016 and is anticipated to grow 17% to 20% in 2017, while gross margins are at about 70%, according to the announcement.

Strategically speaking, the deal will complement Allergan's existing two medical aesthetics divisions -- facial aesthetics and plastic surgery and regenerative medicine.

Speaking to the substantial market opportunity to grow Zeltiq is its less-than 2% penetration rate, as opposed to about 7% for Botox, Saunders said on the call.

Management, describing Zeltiq's CoolSculpting technology as the "botox of ten years ago" also noted the near-term opportunity to expand the technology's usage to cellulite, for which there are few treatment options today. Other avenues for growth include growth overseas where approval processes are less stringent, management indicated. 

"We have tremendous opportunity internationally where Zeltiq has done a nice job, but only scratched the surface," Saunders said.  

Saunders noted on the call that he suspects the vast majority of the Zeltiq team, led by medical device veteran and CEO Mark Foley, will join Allergan post-transaction.

The acquisition is anticipated to close in the second half of 2017, pending Zeltiq shareholder approval and customary antitrust approval.

One more positive from the recent deal? Cramer pointed out that Allergan has plenty of cash to go along with a pretty large stake in Teva Pharmaceutical (TEVA) - Get Teva Pharmaceutical Industries Ltd. Report .

Given the rather small size of these deals, Teva's dividend payments to Allergan cover a large portion of these transactions, Cramer said. As fate would have it, Teva also reaffirmed its dividend Monday morning.

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