Science & Technology

Channels: Science & Technology | Financial Markets | Artificial Intelligence | Blockchain


Sientra Announces Acquisition of the Independently Operated OPUS® Breast Implant Manufacturing Operation from Lubrizol Life Science

[2019.11.07, Thu 23:03] SANTA BARBARA, Calif., Nov. 07, 2019 - Sientra, Inc., a medical aesthetics company, announced today the acquisition of the dedicated FDA-approved silicone breast implant manufacturing operation in Franklin, Wisconsin, from Lubrizol Life Science. Lubrizol Life Science will turn over to Sientra a turnkey, fully operational Class 3 breast implant manufacturing operation that is now 19 months into commercial scale-up with established capacity that continues a steady ramp to position the Company to meet its near-term and long-term commercial objectives. Jeff Nugent, Chairman and Chief Executive Officer of Sientra, said, "This acquisition advances our strategic goal of becoming the leading provider of breast products in the worldwide breast augmentation and reconstruction market. Over the years we have considered several options to achieve vertical integration for our breast implants and we believe that acquiring this already established operation in a turnkey transaction is the most intelligent way to achieve this goal with the best mix of risk, reward, investment and speed." Mr. Nugent continued, "We want to thank Lubrizol Life Science for their strong relationship these past four years and for their steady efforts in building a world-class breast implant operation that could be transferred over to us so seamlessly. We are confident in the significant manufacturing expertise within the Sientra organization and our ability to successfully integrate the breast implant operation." "Lubrizol Life Science and Sientra have had a long-standing relationship in design, development and scale-up of several cosmetic implant products," said Uwe Winzen, General Manager of Lubrizol Life Science. Sientra will employ the majority of Lubrizol Life Science's employees that are currently dedicated to the Sientra implant manufacturing operation in Franklin. Such statements are subject to risks and uncertainties, including the Company's ability to successfully integrate the breast implant operations, the Company's ability to leverage the breast implant operations for product development and innovation efforts, and the Company's ability to obtain economic benefits from the breast implant operations.
Read on Benzinga.com >   Google the news >>

<< Back


(c) 2019 Geo Glance