Tag Archives: ulthera

Matt Likens - AZ Business Magazine January/February 2012

Merz acquires Mesa-based medical company Ulthera

Merz and Ulthera, Inc. today announced that they have entered a definitive merger agreement, pursuant to which Merz will acquire global medical device company Ulthera, a deal which will accelerate Merz’s growth in the aesthetics area and expand the company’s portfolio of treatment options in facial aesthetics.

Merz and Ulthera have entered a definitive merger agreement pursuant to which Merz will acquire Ulthera, Inc, a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications using its therapeutic ultrasound platform technology. Valued at up to $600 million in upfront cash and milestone payments, the acquisition is the largest in Merz’s history.

“This acquisition represents an important strategic milestone for Merz,” said Philip Burchard, CEO of Merz Pharma Group, which has affiliates in 18 countries around the world. “We have a vision to be the most innovative company in aesthetics, and expanding into the rapidly growing field of energy devices will position us for long-term success in this area. The addition of Ulthera’s energy device technology complements and expands our global presence in the aesthetics space.”

Founded in 2004, Ulthera is a leader in non-surgical lifting and tightening treatments. Using therapeutic ultrasound technology, the Ulthera® System is the first and only ultrasound platform device to receive FDA clearance for lifting skin on the eyebrow, the neck and under the chin. Ulthera expects sales of more than $100 million in 2014.

“The aesthetic lift indication differentiates Ulthera from every other energy device available in the market today,” said Bill Humphries, President and CEO of Merz North America, Inc. “It is truly innovative technology, and we expect to leverage our in-house clinical expertise to develop further aesthetic and medical applications and bring them to the international marketplace.”

Merz and Ulthera have a shared mission: to bring innovations to market that meet the needs of physicians and improve the well-being of patients. This shared long-term vision provides a solid foundation for the combined company. “Joining with a like-minded, growing global healthcare company is a major milestone in the life of our company,” said Ulthera CEO Matt Likens. “Through our collaboration with Merz, we hope to introduce the Ulthera® System to new customers and markets around the world.”

“Building on this important new partnership, Merz will continue to seek innovative M&A and licensing opportunities on a global scale,” said Hans-Jörg Bergler, Head of Corporate Development for Merz Pharma Group.

The transaction has been approved by the boards of both companies and is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is expected to close in the third quarter of 2014.

ulterapy-treatment-gives-you-younger-looking-skin-video

Ulthera files for $86 million IPO

Ulthera, which sells ultrasound energy systems for the non-invasive lifting of eyebrows and skin around the neck, filed on Monday with the SEC to raise up to $86 million in an initial public offering.

The Mesa-based company, which was founded in 2004 and booked $82 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol ULTH. J.P. Morgan and Citi are the joint bookrunners on the deal. No pricing terms were disclosed. (1)

Ulthera, Inc. is a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications. The company’s signature technology is the Ulthera® System, which is the first and only energy-based device that is FDA-cleared for use as an aesthetic treatment – the Ultherapy® procedure – that non-invasively lifts the eyebrow and skin on the neck and under the chin.

The company received its third FDA clearance in January of 2013 for its ultrasound platform device, the Ulthera System, has been cleared by the Food and Drug Administration (FDA) to visualize the dermal and subdermal layers of tissue during the non-invasive lifting treatment, Ultherapy.

This third FDA clearance follows the first two – in Sept. 2009 and Oct. 2012 – which cleared the Ulthera System to non-invasively treat the face and neck with specific, first-and-only indications to lift skin on the neck, under the chin and above the brow.

bioscience

Bioindustry honors Innovators at AZBio Awards

The Arizona Bioindustry Association (AZBio) today announced that more than 350 leaders from across the State of Arizona will be gathering at the Phoenix Convention Center on October 10, 2013 to celebrate AZBio’s 10thanniversary as Arizona’s statewide bioindustry association and to recognize the leaders, innovators and companies that are making Arizona one of the fastest growing bioscience states in the nation.

“Over the last decade, Arizona’s bioindustry has delivered an aggregate job growth of 45% (2002-2011) and an increase in the number of healthcare and bioscience firms by 31%,” shared AZBio President and CEO Joan Koerber-Walker. “This is the result of executives, innovators, researchers, educators, and elected leaders working together to embrace possibilities and collaboratively create a fast growing industry that is creating high wage jobs and addressing some of our greatest challenges: improving health and creating new industries that leverage our natural resources and our steadily increasing collection of internationally recognized talent.”

In addition to honoring the hundreds of organizations that have worked together over the last 10 years to create and drive life science innovation in Arizona, the AZBio Awards recognize specific thought leaders and industry leaders for their contributions. Attendees will have the opportunity to learn about and gain insights from:

  • Thomas M. Grogan, M.D., Founder of Ventana and SVP Medical Affairs at Ventana Medical Systems, Inc., a member of the Roche Group and recipient of the AZBio Pioneer Award for Lifetime Achievement honoree.
  • Linda Hunt, President and CEO of Dignity Health Arizona, the 2013 Jon W. McGarity Arizona Bioscience Leader of the Year.
  • Amanda Grimes of the Mesa Biotechnology Academy in the Mesa Public Schools, recipient of the Michael A. Cusanovich Arizona Bioscience Educator of the Year Award for inspiring students to explore careers in the biosciences.
  • Orphan drug pioneer Leslie Boyer, M.D., founding director of the VIPER Institute at The University of Arizona. With her team of international collaborators developed the FDA approved anti-venom for the scorpion’s sting.
  • John W. Lewis, Mayor of the Town of Gilbert, Arizona recipient of the AZBio Public Service Award for his leadership in attracting and supporting the development of world class research, manufacturing and clinical services in Gilbert.
  • The team from Arizona Bioscience Company of the Year – W.L. Gore & Associates, Inc., Arizona’s largest life science employer. The Gore Medical Products Division has provided creative therapeutic solutions to complex medical problems for more than 35 years. During that time, more than 35 million innovative Gore Medical Devices have been implanted, saving and improving the quality of lives worldwide Gore has been granted more than 2,000 patents worldwide ranging from polymer processing to medical devices.
  • Dr. Robert Bowser, AZBio Fast Lane Award winner for pioneering new diagnostics for ALS and traumatic brain injury at Iron Horse Diagnostics, Inc.
  • Dr. Garrett Smith, co-founder of Nasseo, Inc., the Fast Lane Award winning company that has developed the FDA approved TiArray™ Dental Implant.
  • Jeff Martin, CEO of Fast Lane Award winner Yulex Corporation and the team that delivers Yulex’s Guayule BioRubber Emulsions and BioRubber Solids that have medical, consumer, and industrial applications to grow an increasingly diverse market community with ultra-pure, high-performance products.
  • And executives from Algae Biosciences, Ventana, Pfizer, Genentech, EY, Northern Arizona University/TGen North, Regenesis Biomedical, Ulthera, VWR, and NACET.

The 8th Annual AZBio Awards will be held Thursday, October 10, 2013 at the Phoenix Convention Center. In addition to the Gala Awards Luncheon from 11:30 a.m. to 2:00 p.m., the VWR Company Showcase and Student Discovery Showcase sponsored by NAU will highlight the work of Arizona’s current and future life science leaders from 10 a.m. – 11:30 a.m. and again from 2:00 p.m. – 3:00 p.m. so that attendees can see the work being done across the industry and interact with the leaders and future leaders who are driving bioindustry innovation. The event is open to the public and tickets are available for purchase at AZBioAwards.com.

“Almost 100,000 Arizonans are embracing possibilities every day across Arizona’s healthcare and life science sector. Through their efforts, we are making life better here at home and around the world by discovering, developing, and delivering life science innovations,” added Koerber-Walker. “AZBio is honored to have the opportunity to work with them and to bring so many of our leaders together in one place on one day so our community can meet them and learn about them too.”

Matt Likens - AZ Business Magazine January/February 2012

First Job: Matt Likens, CEO Of Ulthera, Inc.

Matt Likens, CEO of Ulthera, Inc., discusses her first job working on a muck farm on Ohio, his first job in the healthcare industry, his biggest mentor and more.


Matt Likens

Title: CEO
Company: Ulthera, Inc.

What was your very first job?
When I was 10 years old, my brother — who is two years younger than me — and I worked on a muck farm in Ravenna, Ohio. We would be picked up at 6 a.m., go to the farm, crawl around on our hands and knees all day, weeding crops that were grown in this very rich, black, wet soil called muck. It was mostly mustard plants and assorted other crops. Then, when the plants were ready, we would harvest them.

What did you learn from that first job?
It taught us the value of hard work. We didn’t have a privileged childhood, so it was a way for us to become self-sufficient and do the things we wanted to do, whether it was buying baseball cards or soft drinks. I learned that earning your own way in life is the right this to do.

Describe your first job in your industry.
My first job in the healthcare industry came in 1978 as a sales representative for Baxter Healthcare, working in their transfusion medicine business, selling blood collection containers and everything used to transfuse blood and blood components.

What lessons did you learn from your early industry jobs?
Right out of college, I got a job selling industrial tape for Johnson & Johnson in Minnesota against 3M, which had an 85 percent market share. So I learned rejection very early in my career, but I also learned the value of having a good second supplier. Companies with such a dominant market share tend to get arrogant and take their business for granted. So if you work hard and portray yourself as a credible second supplier, it’s a way to get in the door.

What were your salaries in your first job and first industry job?
My salary at the muck farm was 35 cents an hour. My salary at Johnson & Johnson was $13,000 per year.

Who is your biggest mentor?
Harry Cramer, who was the CEO at Baxter when I left. I have a book in my office that Harry wrote called “Values Based Leadership.” If Harry said it, he also acted that way, so his words and actions were absolutely in synch with each other. That was an excellent example and I’ve tried to emulate that  as I’ve moved past Baxter and into the startup world.

Arizona Business Magazine January/February 2012