Waldencast plc, the brand platform behind Milk Makeup and Obagi Medical, has announced the acquisition of Novaestiq Corp., a company specializing in aesthetic and medical dermatological innovations. The deal also includes the U.S. rights to the Saypha line of hyaluronic acid (HA) injectable gels, currently undergoing FDA approval.
"Obagi Medical’s strength has always been rooted in dermatological science, and this move into injectables is a natural extension of that expertise," Waldencast co-founder and CEO Michel Brousset tells Global Cosmetic Industry. "By adding proven injectable products like the Obagi Saypha line into our portfolio, we’re expanding our ability to serve both professionals and patients seeking more integrated solutions—all under the trusted Obagi Medical brand, which will be the only major brand spanning skin care and aesthetics. This acquisition doubles our addressable market in the U.S. by expanding into the dermal filler market exhibiting a 6% CAGR and expected to be $2 billion by 2029."
When asked what makes the medical-grade beauty space such an attractive investment opportunity, Brousset notes, "The $9.2 billion U.S. medical aesthetics space (includes skin care, fillers, neuron-modulators, etc.) is projected to grow to $12.9 billion by 2029. This acquisition strengthens the value we deliver to our existing practitioner network, while opening the door to a pipeline of future innovations in aesthetics across North America. Ultimately, this is a major step forward in Obagi Medical’s vision to become the world’s leading dermatological mega brand."
As for what's driving growth in the market, Brousset says, "The growth in the beauty market is being fueled by a combination of consumer demand and product innovation, and this acquisition sets Obagi Medical and Waldencast up for success. It addresses consumer and practitioner demand for both skin care and aesthetic treatments under one roof. Additionally, the Novaestiq transaction provides access to a future pipeline of novel injectables in North America."
Obagi Medical Expands into U.S. Dermal Filler Market with Saypha Acquisition
The acquisition significantly expands Obagi Medical’s portfolio beyond medical-grade skin care into the U.S. dermal filler market, which is projected to reach $2 billion by 2029, per Waldencast. This move doubles Obagi Medical’s addressable market and positions it, in the view of the company, as a leader in integrated skin care and aesthetic solutions.
Saypha, developed by Croma-Pharma GmbH, is a globally recognized HA injectable known for natural-looking results and advanced technology. With 40 years of expertise and over 110 million syringes produced, the product is marketed in more than 80 countries.
Obagi Medical aims to provide holistic solutions combining skin care and aesthetic treatments, while continuing its mission of offering effective products for all skin types and tones. This acquisition aligns with Waldencast’s strategy to drive innovation and expand its market presence.
Obagi Medical Expands Portfolio with New Injectable HA Gel Lines
“We are excited to further diversify Obagi Medical’s portfolio of medical-grade skin care with consumer centric, in-office injectable procedures through the introduction of the Obagi Medical Saypha ChIQ and MagIQ lines of injectable HA gels,” said Michel Brousset, co-founder and CEO 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.”
“We believe that great results start with great skin care and are perfected with great after care,” said Suzan Obagi, M.D., 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.”
Brousset added, “We are thrilled to introduce this new offering that will strengthen Obagi Medical’s market position, drive innovation, and create new growth opportunities in our fast-evolving industry. We see an accelerating global convergence of health, beauty, and aesthetics–an intersection where Obagi Medical is uniquely positioned to lead. We also plan to leverage this acquisition to expand Obagi Medical’s footprint.”
