Crown Laboratories, Inc. and Hildred Capital Partners, LLC have acquired Bellus Medical.
Bellus’s non-invasive offerings include the SkinPen, a medical grade microneedling device used exclusively by healthcare professionals to improve the appearance of facial acne scars. It is the first microneedling device to be granted clearance and marketing authorization by the FDA or this indication.
Other Belus products include:
- Skinfuse: post-microneedling protocol
- Allumera:light-activated cream
- ProGenTM / RegenLab:platelet-rich plasma systems
Bellus Medical will become the new Aesthetics Division of Crown Laboratories and be renamed Bellus Aesthetics. Bellus will continue to be based in Dallas and operate as a wholly-owned subsidiary of Crown Laboratories. Bellus CEO Joe Proctor will become President of Crown’s Aesthetics Division and join the Crown Board of Directors.
“Partnering with Bellus is a truly exciting and significant first step in building our Aesthetics Division,” said Jeff Bedard, Crown Laboratories President and CEO. “Bellus has assembled a truly impressive team with an enviable track record of innovation in aesthetics, exemplified by the SkinPen®, the first ever FDA-cleared microneedling device for acne scarring. We believe there is a tremendous opportunity for us in aesthetics, and with Bellus as the cornerstone of our new division, we expect to expand our portfolio meaningfully in the years ahead.”
“We are thrilled to have found such a compelling opportunity with a partner that shares our vision and approach to growing the business and improving patient outcomes,” said Joe Proctor, Bellus Medical CEO. “The Crown Labs organization is culturally compatible and brings us the additional resources we need to expand our infrastructure, support future growth,and better serve our valued network of providers. This transaction represents a unique opportunity to build Bellus into an elite aesthetics company and we look forward to joining with our new colleagues and to building the Crown aesthetics franchise.”
“On behalf of Hildred, I am delighted to work with Crown on launching its new Aesthetics Division and to welcome Joe and his colleagues to the team,” said David Solomon, Hildred Partner and Chairman of the Board for Crown Laboratories. “With its unique market position and portfolio, led by the first ever recognized Class II microneedling device, Bellus represents an exciting opportunity for Crown, complements its current skincare offering and expands its potential to grow and drive future consolidation. We will continue to look for distinct and attractive opportunities to build on Crown’s consumer healthcare and prescription product lines – and now its aesthetic product line – with the launch of this new division.”