Zhong Lun Law Firm and Han Kun Law Offices have advised Solta Medical, the parent company of well-known aesthetic devices brand Thermage, on its acquisition of 100% equity in its longstanding China distributor, Shibo Zhenmei Technology, for an undisclosed amount.
On completion, Zhenmei, a subsidiary of ShiboGroup, became a wholly owned subsidiary of Solta in China, responsible for local product distribution.
Solta is an aesthetic medicine business under Bausch Health, a pharmaceutical and medical device company operating in the US and Canada. During the past decade, Shibo Group has served as Solta’s key distribution partner in China.
This acquisition enabled Solta to fully control the entire value chain, from R&D and import supply to end-channel sales and client services. This transformed the previous “brand + distributor” model and further integrated Thermage’s China business.
Zhong Lun advised Solta on PRC law, with partners Gong Lefan and Cindy Guo leading the team, supported by partners Jim Qiu, Frank Jiang, April Yan, Mark Gao, and non-equity partner Grace Li. Han Kun acted as Shibo Group’s legal counsel.
The acquisition expanded Solta’s market reach and scale in China, facilitating direct engagement with a broad customer base and driving future growth, Thomas Appio, CEO of Bausch Health, said in a press release.
China has become a core pillar of Thermage’s global business. When Bausch Health filed for a Nasdaq listing in 2022, China already contributed 33% of Thermage’s revenue, making it the fastest-growing regional market worldwide.
