Specialty healthcare company Merz will acquire Ulthera, a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications using its ultrasound platform technology. The merger is valued at up to $600 million in upfront cash and milestone payments.

Founded in 2004, Ulthera provides non-surgical lifting and tightening treatments. Using therapeutic ultrasound technology, the Ulthera System is the only ultrasound platform device to receive FDA clearance for lifting skin on the eyebrow, neck and under the chin. Ulthera expects sales of more than $100 million in 2014.

Bill Humphries, president and CEO of Merz North America, said, “We expect to leverage our in-house clinical expertise to develop further aesthetic and medical applications and bring them to the international marketplace.”

The transaction is expected to close in the third quarter.