Obagi, Milk Makeup Owner Waldencast Enters Filler Market With New Acquisition

Obagi injectables are in the works.

Waldencast, the parent company of Milk Makeup and Obagi Medical skin care, has acquired Novaestiq Corp., an aesthetic and medical dermatological innovations company, as well as the U.S. rights to the Saypha line of hyaluronic acid injectable gels. Terms of the deal were not disclosed.

The acquisition will sit under the Obagi brand, which will expand its offerings beyond skin care into the U.S. dermal filler market.

“We are excited to further diversify Obagi Medical’s portfolio of medical-grade skin care with consumer centric, in-office injectable procedures,” said Michel Brousset, cofounder and chief executive officer of Waldencast. “Adding proven products into our portfolio increases our addressable market and allows us to deliver solutions for professionals and patients seeking both skin care and aesthetic treatments, all under the trusted Obagi Medical brand.”

Saypha, a product of Croma-Pharma GmbH, is developed and manufactured in Austria and marketed in more than 80 countries, but not yet available in the U.S. It is currently undergoing U.S. Food and Drug Administration approval.

According to Waldencast, Saypha’s proprietary technology delivers advanced HA treatments through a stable 3D matrix designed to provide natural-looking results with optimally balanced gel characteristics.

“We believe that great results start with great skin care and are perfected with great after care,” said Dr. Suzan Obagi, chief medical director at Obagi Medical. “By combining Obagi Medical skin care with injectable procedures under the guidance of a qualified professional, patients can achieve more significant, longer-lasting and natural-looking results. This acquisition also allows our professionals to offer patients more personalized, higher quality and safer products that their customers are looking for.”

On putting it under the Obagi brand as opposed to running it as a standalone entity, Brousset said: “The Obagi brand is actually a big part of what is going to boost the performance of this business. Our vision is to create Obagi as a mega brand in the world of beauty aesthetics, and have Obagi as the big platform to market through the trust that physicians have on Obagi and through the trust that consumers have on our existing infrastructure system business model.”

Brousset is open to more M&A opportunities, especially in the aesthetics space.

“This is our first step into aesthetics. We expect to have more steps in the future.”