RoundTable Healthcare Partners has entered into a definitive agreement to sell Aqua Pharmaceuticals Holdings, Inc. to Almirall S.A. for up to $402.6 million in cash. The consideration includes $327.6 million of cash at closing plus up to $75 million of contingent payments. Almirall, headquartered in Barcelona, Spain, is a global pharmaceutical company committed to providing innovative products focused on the treatment of respiratory, dermatological, gastrointestinal, and pain diseases. The closing is conditional on regulatory approval and other customary closing conditions.

Aqua is a specialty pharmaceutical company focused on acquiring, developing, and marketing branded, prescription dermatology products. Aqua was co-founded in 2004 by Craig Ballaron and Jay Gooding and is headquartered in West Chester, PA. RoundTable acquired a majority interest in Aqua in June 2010.

"The Aqua management team, led by Co-Founder and CEO Craig Ballaron, has created an industry-leading specialty dermatology pharmaceutical company, achieving exceptional growth through its strong sales organization and strategic product acquisitions while making significant R&D investments," said Jack L. McGinley, Founding Partner of RoundTable and Chairman of Aqua. "We believe that Almirall will be a strong strategic partner for Aqua, its employees and customers going forward."