Galderma to acquire ZO Skin Health for approximately $1.5 billion
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Swiss skincare conglomerate Galderma has agreed to acquire medical-grade skincare company ZO Skin Health for around $1.5 billion, according to sources familiar with the matter. The deal could be announced in the coming days. ZO, owned by investment firm Blackstone, was exploring a sale with Citigroup and Raymond James. Galderma, in which L'Oréal holds a 20% stake, aims to expand its US presence. ZO, founded by dermatologist Zein Obagi in 2007, sells physician-distributed skincare products. The acquisition reflects strategic buyers' preference for clinically backed, physician-distributed brand…