Tennessee-based Crown Laboratories, Inc. and Hildred Capital Partners LLC portfolio company announced its acquisition of Dallas-born Bellus Medical not too long ago. Located in Johnson City, Tennessee, the pharmaceutical company specializes in dermatology and offers customer health care products, prescription medication, contract development and manufacturing services. Bellus Medical, a medical aesthetics treatment industry leader, provides innovative repair and restoration products to aesthetic practices worldwide. Aesthetic medicine refers to medical products and services that improve cosmetic appearance by treating scars, skin laxity, wrinkles, moles, liver spots, excess fat, cellulite, unwanted hair, skin discoloration and spider veins. Bellus Medical will become the new Aesthetics Division of Crown Laboratories, and it will be renamed Bellus Aesthetics.
Bellus will maintain its Dallas location and will operate as a wholly-owned subsidiary of Crown Laboratories. Bellus Medical CEO Joe Proctor will become President of Crown’s Aesthetics Division and join the Crown Board of Directors.
“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,” Proctor said. “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.”
What’s most notable about Bellus Medical is their non-invasive approach to improving skin and hair appearance. The SkinPen, one of their most popular products, is a medical-grade microneedling device used exclusively by healthcare professionals to improve the appearance of facial acne scars. It is the first microneedling device of its kind to receive marketing authorization approval by the U.S. Food and Drug Administration (FDA) for this indication.
“Partnering with Bellus is a truly exciting and significant first step in building our Aesthetics Division,” Crown Laboratories President and CEO Jeff Bedard said. “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.”
For more information on the Bellus product line, check out the website.