INAMED Corporation is a global healthcare company with over 25 years of experience developing, manufacturing and marketing a diverse line of products that enhance the quality of people’s lives. These products include breast implants for aesthetic augmentation and for reconstructive surgery; a range of dermal products to treat facial wrinkles; and minimally invasive devices for obesity intervention, including the LAP-BAND(R) System for morbid obesity. INAMED generates sales and EBITDA of $438 million and $112 million, respectively.

Transaction Rationale:

• Attractive fundamentals in aesthetics and dermatologic devices and medicine
• Significant untapped growth opportunity
• Strong brand name, quality reputation and market position
• Lack of focus and resources on strategy and product development
• Strong and knowledgeable management

Creating Value:

• Accelerated sales growth through build-up of sales force and increased differentiation and segmentation to surgeon customers
• Drove margin expansion through improved manufacturing efficiencies, cost containment, introduction of higher margin products, and utilization of new information systems
• Defined growth strategy that produced robust product pipeline of new products to launch in 18 months period
• Successfully executed merger with strategic buyer

Outcome:

• INAMED Corporation completes change of control transaction in excess of $3 billion and creates a global leader in aesthetics and dermatologic medicine and devices.  INAMED Corporation's shareholder value increased $2.5 billion in three years.